The Conversation

Explainer: why is China devaluing its currency?

Author: The Conversation

EPA/Wu Hong

China has shocked global financial markets by devaluing its currency for two days running. August 11 saw a record 1.9% fall in value, followed by another 1% decline on August 12. The move by the Chinese central bank marks the yuan’s largest devaluation in two decades, sending a ripple effect across the regional Asian market and...

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