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Chinese yuan weakens for the 3rd straight day

by ChemOrbis Editorial Team -
  • 13/08/2015 (13:22)
According to media reports, the Chinese central bank lowered the reference rate for the yuan for a 3rd straight day following an initial unexpected devaluation by China’s central bank on August 11.

The bank cut the reference rate by an additional 1.11% against the dollar after the central bank cut the yuan’s reference rate by 1.9% on Tuesday and 1.6% on Wednesday. The yuan’s parity rate stood at 6.4010 per dollar as of the time of press.
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