China’s yuan currency falls for a second day

“China’s Central Bank has again cut the guiding rate for the national currency, the yuan, a day after Tuesday’s record 1.9% devaluation.

The move sent fresh shockwaves through Asian markets, but the bank has sought to calm fears, saying it was not the start of a sustained depreciation.

The yuan fell another 1% on Wednesday, marking the biggest two-day lowering of its rate against the dollar in more than two decades. “

Source: China’s yuan currency falls for a second day – BBC News

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