Central Bank of China lowered the yuan to a minimum of 4.5 years - up to 6.49 per dollar

Almaty. December 29. Silkroadnews - PBOC lowered the yuan to a minimum of 4.5 years - up to 6.49 per dollar, says the agency TASS.
On Monday, the Central Bank announced its intention to continue its reform on the formation mechanism of RMB exchange rate.
The reform of the formation mechanism of RMB exchange rate against the dollar began on 11 August this year, when the Chinese central bank announced the decision to "optimize the methodology of calculation."
Thereafter, the yuan within three days was devalued against the dollar in the amount of 4.6% - up to 6.40 per dollar. Following this, the Chinese currency strengthened and on November 2 reached a three-year high at 6.3154 for 1 USD, but then again its rate began to fall. On November 30 the Board of Directors of the IMF decided to include from October 1, 2016 the renminbi in the basket of SDR.