Chinese Yuan’s Drop Is Largest Since Its 2005 Currency Revaluation


Mamta Badkar
Business Insider
February 28, 2014

The Chinese yuan fell 0.9% to a 10-month low of 6.1808 per dollar in Shanghai, the most on record going back to 2007, report Fion Li and Kyoungwha Kim at Bloomberg News.

Yuan in Chinese literally means a "round object" or "round coin," and the Yuan was round in the Qing Dynasty.

Yuan in Chinese literally means a “round object” or “round coin,” and the Yuan was round in the Qing Dynasty.

This is the largest drop since the revaluation in 2005, reports Fiona Law at The Wall Street Journal.

The People’s Bank of China (PBoC) fixed the yuan at 6.1214 per dollar, according to the China Foreign Exchange Trading System.

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