chinas central bank officials have warned investors to not bet on the depreciation of the yuan after the onshore yuan extended losses and hit its lowest level against the dollar since 2008 the foreign exchange market is of great importance and maintaining stability is the first priority said liu guoqiang deputy governor of the peoples bank of china in a meeting tuesday with the china foreign exchange market selfregulated body a group of banks that helps oversee chinas foreignexchange market in the same meeting the central bank asked banks to consciously maintain the stability of the foreign exchange market and curb swings in the exchange rate according to a statement released wednesday there is a small number of enterprises following the trend of  foreign exchange speculation  and some financial institutions have illegal operations said mr liu adding that the government will  strengthen guidance and correction the offshore yuan weakened to more than 72 to the dollar wednesday amid recent attempts by the countrys central bank to support the yuan