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The Yuan is calm today

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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.


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