| China’s foreign-exchange market is stabilizing after a historical week that saw the biggest selloff in two decades and a move to a more market-driven currency regime. Here’s a look at where things stand after the volatile trading days.
The market exchange rate has converged with the official reference rate, or fixing, since Thursday after consistently trading more than 1 percent weaker in recent months. That suggests the policy adjustment may be achieving its goal and that there’s less likelihood of movements of similar magnitude going forward, according to RBC Capital Markets...............................................Full Article: Source
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