Currency News: China’s Devaluated Yuan Update
According to Ma Jun, chief economist at China’s central bank, the yuan will probably move in both directions in the future following last week’s devaluation as the economy stabilises.
According to Ma Jun, chief economist at China’s central bank, the yuan will probably move in both directions in the future following last week’s devaluation as the economy stabilises.
China’s central bank, the People’s Bank of China (PBOC), unexpectedly decided to devalue its currency by 1.9% against the US dollar.