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China cuts yuan against US dollar by 1.62%: Xinhua

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China cut the value of the yuan against the dollar by 1.62 per cent on Wednesday, the official Xinhua news agency said, the second reduction in two days.

[SHANGHAI] China cut the value of the yuan against the dollar by 1.62 per cent on Wednesday, the official Xinhua news agency said, the second reduction in two days.

The daily fix that sets the value of the Chinese currency against the greenback was lowered to 6.3306 yuan, from 6.2298 on Tuesday, Xinhua quoted national foreign exchange market data as showing.

AFP

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