The renminbi fell to a four-year low minimum
Almaty. December 11. Silkroadnews - rate of RMB against the US dollar fell to its lowest in the last four years level. China's central bank lowered the rate to 6.45 yuan per $ 1, reports the BBC Russian Service.
Thus, according to analysts, it is a sign that Beijing is ready to allow a partial depreciation of the yuan against the decision of the International Monetary Fund to include the currency to the reserve currency basket. This decision shall enter into force on 1 October 2016.
As noted, compared with Thursday, China's currency has lost 0.2% of its value. Over the course of the week it fell against the dollar by 0.8%, and YTD - 4%.
The renminbi is not determined by open outcry pit trading, but by the decision of the authorities.
The last time such a low value of the Chinese currency exchange rate reached in August 2011.