China’s Yuan Sees Lowest Decline In Years

According to press reports, China’s yuan hits record lows against the surging U.S. dollar in recent trading.

The internationally-traded yuan fell to its lowest level since data first became available in 2011.

China’s domestic currency also reached its weakest point since the 2008 global financial crisis.

It comes as the dollar continues to rise in value against other major currencies after the U.S. central bank increased interest rates again earlier this month.

Meanwhile, major stock market indexes across Asia fell sharply mid-week.

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Edited by Jesus Chan

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