“The magnitude is small but the impact is outsized because China had been such a strong source of currency stability.”
The country has strong economic environment, sustained trade surplus, sound fiscal position and deep foreign exchange reserves
A more optimistic view: Beijing might be buying some stability so it can accelerate the reform process.
A senior trader at a European bank in Shanghai said the unexpected devaluation had caused "some panic" in the markets.
Analysts and traders said the adjustment will have negative impact on the stock market in the next few sessions.
The wider band came as global crude oil prices hit new lows, while the dollar has strengthened and the Chinese...
A measure of the region’s 10 most-traded currencies excluding the yen is set to decline for a third year...
Central bank called the change a one-time adjustment and said it will strengthen the market’s ability to determine...
HSBC Holdings Plc predicts a devaluation, which would be the third in less than a year, to support overseas sales.
The recent devaluation of the Vietnamese dong has made things more difficult for importers, and increased the national debt burden.