The government of China has decided to stop its currency peg to the U. S. dollar. The country will revalue its currency, the yuan , for the first time in a decade. This comes after international pressure from Western countries, especially from the United States. The yuan will now be linked to a variety of different currencies. The People's Bank of China has announced a 2.1\% revaluation increase which will allow the yuan to fluctuate +/- 0.3 yuan in daily trading. This means, like other currencies, that closing prices one day become opening prices the next day.
The government of China has decided to stop its currency peg to the . The country will revalue its currency, the , for the first time in a decade. This comes after international pressure from Western countries, especially from the United States. The yuan will now be linked to a variety of different currencies. The has announced a 2.1\% revaluation increase which will allow the yuan to fluctuate +/- 0.3 yuan in daily trading. This means, like other currencies, that closing prices one day become opening prices the next day.
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U. S. dollar.
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yuan
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People's Bank of China