China pushes yuan to four-year low

China’s currency fell sharply for a second day as the People’s Bank of

China set its daily fix for the yuan to 6.33 to the U.S. dollar – 1.6% weaker than Tuesday’s fix, which in turn was 1.9% weaker than Monday’s
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Chinese yuan to US$
 
6.15 6.20 6.25 6.30 6.35 6.40 6.45 6.50

Aug 6: 6.2099 Aug 11: Fix set at 6.2298 Aug 12: Fix set at 6.3306

Aug 8: China reports July retail sales and Industrial output below market expectations. Exports in July were 8.3% lower than previous year

Daily fix: Central bank sets midpoint for its currency each morning. When market opens, investors can trade 2% up or down from midpoint

Aug 11-12: Yuan loses 3.5% in China in two days

Thu Fri Mon Tue Wed

Scale inverted to show fall of yuan – also known as renminbi
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Sources: Bloomberg, Zerohedge.com Picture: Newscom
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