China sends shockwaves through economy with yuan devaluation

Q.  Which country has sent shockwaves through global markets by moving to prevent a further drop in exports with the biggest one-off devaluation of its currency in 20 years?
- Published on 28 Aug 15

a. Japan
b. United States
c. Hong Kong
d. China

ANSWER: China
 
The People’s Bank of China said the centre of the yuan’s trading band was reset 1.9% lower at 6.2298 per US dollar, its weakest point against the US dollar for almost three years.

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