The people’s Bank of China weakened the yuan to the dollar by 0.33%

Народный банк Китая ослабил курс юаня к доллару на 0,33%

The people’s Bank of China weakened the yuan to the dollar by 0.33% — to 6,7379 per unit of U.S. currency, according to the regulator.

On Monday, the people’s Bank of China set the average exchange rate of the yuan to the dollar at around 6,7379 222 points higher fixing last Friday, when the rate was 6,7157.

The Chinese currency is long enough remained stable at around 8.3 yuan per dollar until the summer of 2005 began to strengthen. In the autumn of 2008, the yuan around the year kept at the level of 6.8, and in September 2009 started to increase again. The peak occurred in January 2014 when 1 dollar was about 6 yuan.

In August 2016 the people’s Bank of China weakened sharply, the yuan to the dollar (from 3% from 6.20 to 6.40), a shock to world stock markets. Later, the Chinese Central Bank focused on the stabilization of the yuan. After this happened three more waves to the weakening of the Chinese currency: in the winter of 2015/2016 (to 6.55), in July 2016 (to 6.67), and the third began in October.

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