Bloomberg Originals
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Yuan Devalued to Combat China Slowdown
Posted
August 11, 2015
Views
12,414
Likes
39
Comments
7
Engagement
0.37%
August 11, 2015
12,414
39
7
0.37%
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2:44Now PlayingAugust 11 -- The yuan dropped the most in two decades, sparking a tumble in Asian currencies after China devalued its exchange rate to combat an economic slowdown. The devaluation follows economic reports this month showing a plunge in Chinese exports, weaker-than-estimated manufacturing and slowing credit growth.
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