SUBSCRIBERS
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
Add BT as a preferred sourcePublished Fri, Aug 12, 2016 · 09:50 PM
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 generated speculation ever since about whether the financial authorities intended to devalue the yuan dramatically to boost growth.
Share with us your feedback on BT's products and services
