NEW YORK, Sept. 19 (Xinhua) -- The exchange rate of Chinese currency RMB will stay basically stable at a reasonable and balanced level, Chinese Premier Li Keqiangsaid here on Monday.

There is no basis for a sustained devaluation of RMB, Li said as he met with U.S. President Barack Obama, adding that the Chinese economy has shown a steady upward trend and has huge room for maneuver.