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China lowers yuan midpoint to weakest since 2008 global financial crisis

2020-05-25 46 Dailymotion

'환율전쟁' 벌어지나…中, 위안화 전격 절하<br /><br />China's central bank has lowered its official yuan midpoint to the weakest it has been since the 2008 global financial crisis.<br />According to Reuters,... the People's Bank of China on Monday set the midpoint at around 7-point-1-2-0-9 yuan per U.S. dollar prior to the market open.<br />That's point-38 percent lower than the previous fix of 7-point-0-9-3-9.<br />It's also the weakest level in 12 years.<br />Beijing's move hints yet another showdown between the U.S. and China, as the bilateral relations between the two have deteriorated over COVID-19 and China's proposed new national security law for Hong Kong.<br />

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