Posted inBusiness, China

Yuan strengthens after three consecutive days of devaluation

The Chinese currency traded stronger at 6.3975 yuan to $US1.0 on Friday, after the central bank’s surprise devaluation that lasted three consecutive days. The daily reference rate was up from the previous day’s fix 6.4010, and in line with yesterday’s close of 6.3982 yuan. Since Tuesday, the yuan had fallen 4.4 percent – its biggest drop in value for decades. A clerk […]