Yuan has updated its rate of exchange against the dollar to a fresh six-year low
Date: 09:52, 21-10-2016.
Almaty. October 21. Silkroadnews – The People’s Bank of China (Central bank) lowered the rate of national currency Renminbi (RMB) against the dollar by 0.37%, to its six-years lowest level of 6.7558 per dollar, TASS writes.
So, the last time the yuan dropped below this mark was observed on September 10, 2010.
Decision of the International Monetary Fund to include the renminbi in the basket of key currencies, based on which the value of special drawing rights (Special Drawing Rights - SDR) is calculated on, came into force on October 1.
The Chinese authorities have repeatedly said there are no reasons for the long-term devaluation of the yuan, and the restructuring of the exchange rate formation mechanism will continue.
