FXStreet (Bali) – Today’s PBOC USD/CNY mid-point at 6.5314 vs yesterday’s fix of 6.5169 and close at 6.5157, was the highest reference rate since April 2011.
The constant devaluation of the Yuan by the Chinese Central Bank continues to show how desperate China is to regain market share on its exports industry after having suffered from a strong Yuan in recent years.
(Market News Provided by FXstreet)