China Further Weakens Yuan to 11-Year Low After US Blacklists Beijing as ‘Currency Manipulator’
In a statement on 6 August, the People’s Bank of China (PBOC) slammed Washington’s decision to designate China as a “currency manipulator”. China’s yuan has continued its nosedive, weakening to 7.0488 to the US dollar on Wednesday, about 0.4 percent below its level late day yesterday. China’s Central Bank set the opening level for trading…