China devalues Yuan for third day in a row

Source: WBP Online
© ScanPix/AFP
The PBoC devalued the national currency against the Greenback for the third consecutive day on Thursday, trying to align the Yuan's value to its offshore trading value. The central bank of China set the USD/CNY up 1.1% at 6.4010. Moreover, Chinese authorities intend to flood the money market with 40 billion Yuan on Thursday. Meanwhile, analysts anticipate further depreciation of Yuan this year. 
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