New devaluation of the yuan which loses another 1% against the dollar. It is the third devaluation of the Chinese currency in 72 hours. This was decided by the Central Bank of China. In three days, the yuan lost 4,64% of its value against the dollar to align with market values.
Now the exchange parity is 6,4010 yuan per dollar.
The new move by the Chinese demonstrates that the devaluation of the yuan it is not a contingent choice dictated by the economic situation but a kind of revolution which aims to increasingly link the Chinese currency to the market.
After the downpours of recent days, it is foreseeable that the markets will also experience a day of passion today. Under fire above all the stock exchanges, the currencies of emerging countries and raw materials.
