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China: There's no basis for continued depreciation of yuan

Friday, August 14, 2015 - 05:50
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Beijing's move to devalue the yuan drew accusations that Beijing was unfairly supporting its exporters.

Beijing

CHINA'S central bank, in a bid to reassure jittery global markets after it devalued its currency this week, said on Thursday that there was no reason for the yuan to fall further, given the country's strong economic fundamentals.

As the yuan slid for a third straight day,