07.01.2016 - China sets yuan currency level near five-year low
China's central bank on Wednesday set the value of the yuan currency against the US dollar at its lowest since April 2011, according to the national foreign exchange market, raising worries over the health of the world's second-largest economy. The People’s Bank of China (PBoC) set the daily reference rate at 6.5314 to $1.0 on Wednesday, down by 0.22 per cent from the previous day, according to the China Foreign Exchange Trade System. It was its weakest for nearly five years. The move marked the seventh session the PBoC has weakened the yuan, reviving concerns over a shock devaluation of the currency in August, when it guided the unit down nearly five per cent in a week...............................................Full Article: Source
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