You are here

The yuan anniversary that really matters

Breaking the US dollar peg 11 years ago helped set the stage for China's emergence as an economic superpower
Saturday, August 13, 2016 - 05:50

BT_20160813_CPYUAN13_2436076.jpg
'YUANNIVERSARY': The People's Bank of China's sudden devaluation of the yuan last year was an epic market shock, but the 2005 move was a bigger milestone for China's economy.

Hong Kong

CHINA'S sudden devaluation of its currency a year ago this week - dubbed the "yuanniversary" by traders - was an epic market shock.

The People's Bank of China (PBOC) weakened the yuan by almost 2 per cent on Aug 11, 2015. It was a move that baffled many investors and has

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom