Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan ...

Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan ...

Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against the dollar, the yuan has now lost 12% versus the greenback so far this year. Central Bank Warns Currency Speculators The Chinese yuan’s onshore exchange rate against the greenback recently plunged to 7.2458 for every dollar, the lowest since January 2008. The yuan’s latest slump came just days....


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