China stages biggest currency devaluation in 20 yrs to revive exports

http://www.rt.com/business/312160-beijing-dumps-yuan-trade/ Published time: 11 Aug, 2015 09:47 Get short URL © Petar Kujundzic / Reuters 190124 The central bank of China has cut its daily reference rate by 1.9 percent, making its biggest downward adjustment since 1994. The People’s Bank insists Tuesday’s measures are a one-off aimed at reviving faltering exports. The bank’s announcement prompted … Read moreChina stages biggest currency devaluation in 20 yrs to revive exports