China’s central bank changed the method of calculating the rate of the yuan against the dollar
The People’s Bank of China devalued the yuan to a three-year low against the dollar, reports BBC BBC. The bank devalued by 1.9% named an exceptional measure aimed to ensure that the RMB exchange rate more accurately reflects the situation on the market.
See also: In the Chinese city of Suifenhe border with Russia are officially allowed to walk ruble In 2015, China’s economic growth slowed in the world. Exports in July fell by 8.3% due to low demand three largest trading partners – the EU, US and Japan. The producer price index fell by 5.4% compared with the previous year.
According to experts, China’s economic growth for the year will be lower than the official rate of 7%.
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