According to Bloomberg data summarized yuan today is stable. PBoC today the reference rate increased slightly to 0.05% compared to the level of Thursday to 6.3975 / $ 1. Today yuan quoted market around 6.4003 / $ 1. Reduction Week is -3%. While looking for stabilization of the currency of the PBoC warned that in the next three months will take frequent interventions in the financial markets.
Analysts believe that this devaluation is sensitive and if China continued in the same direction will cause a problem for import competitors. Australia, New Zealand and the Bank of Japan now wait. For Korea, whose largest market is China having to answer as weaken its currency to help exporters. All affected however, can not devalue their currencies too much because of the risk of sudden capital flight.
After several days of volatile mood calmed down, but the risks remain real.
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.