The Chinese central bank has decided to devalue the yuan by 2% - The move is aimed at orienting the exchange rate more favorably to the market - The yuan-dollar parity, which was yesterday at 6,1162, goes to 6,2298
More news coming from China which these days is polarizing the attention of the financial markets and of the international community.
The Central Bank of China has decided to devalue the yuan by 2%. The decision, the Chinese authorities explain, was taken to orient the exchange rate more favorably to the market.
The yuan-dollar parity, which yesterday was at 6,1162, passes to 6,2298. It is one of the most significant devaluations of the Chinese currency.
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