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Market Overview

Current Overview August 12, 2015

On August 11th the People’s Bank of China (PBOC) surprised the world in devaluing the Chinese currency, the renminbi, by 1.9%. In addition, the central bank also announced a partial liberalization of its exchange rate mechanism. Purportedly this is a one-off action and at this juncture we have no reason to doubt the PBOC’s intentions.

Wednesday, August 12, 2015/Author: John Hsu/Number of views (678)/Comments (0)/
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