11:22 August 12, 2015
(AGI) – Beijing, August 12 – China devalued the yuan again, after a first evaluation took place yesterday. The Chinese central bank fixed the exchange rate today at 6.3306 against the dollar, or 1.62%.
The yuan touched a new low for 4 years, retreating for a second day to share 6 , 43 against the dollar after China’s central bank set the midpoint, the midpoint against whom and ‘swing permitted daily maximum, to 6,330 against the dollar, below the $ 6.229 set yesterday.
European shares sink after devaluation yuan
The Chinese central bank has called these moves one-off, under a new system of management changes that will have to ‘do more’ reference to the market. “Currently – he says the central bank there are the foundations for a sustained trend of depreciation.” However, markets do not like these moves, which in fact aim to support Chinese exports and it is feared the start of a currency war.
The yuan in two days has lost 3.5% of its value in China and around 4.8% in global markets. To suffer today are the Indonesian rupiah and the Malaysian ringgit, its lowest for 17 years, while the Australian dollar and the New Zealand go down to its lowest in six years.
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