In the News

Title

China devalúa su moneda y el mundo empieza a temblar

Authors

El Dia

Document Type

Article

Publication Date

8-12-2015

Abstract

China yesterday devalued nearly 2% the yuan against the dollar, in the biggest revision to the decline in the value of its currency in two decades, and reformed the exchange rate system to stimulate its economy after the fall of the foreign trade, reported yesterday the Chinese Government.

The people's Bank of China announced yesterday in Beijing a renewal in the fixing of the yuan's exchange rate mechanism to try and bring closer it to its real value in the market, which took immediate effect a fall of china's currency compared with the dollar.