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China Devaluates Its Currency Again in Response to Western Rating Agencies
The Chinese yuan dropped on Wednesday to a five-year low against dollar. The Chinese Central Bank fixed the yuan exchange rate at 6.6001/$1 after on Tuesday the yuan closed at 6.5966/$1.
Analysts pointed out several factors that have driven the yuan down. One of the most important among them is strengthening the dollar on expectations of a referendum of Britain leaving the European Union. The vote...