A bank employee uses a money-counting machine to count out 100-yuan notes at a bank in Shanghai on August 8. Photo: AFP
Yu Yongding
Opinion

Opinion

Macroscope by Yu Yongding

China’s yuan sinks, but neither its central bank nor investors are showing signs of panic

Yu Yongding says while the current depreciation in the yuan appears sharper than in the 2015-17 crisis that rattled investors, the PBOC has yet to intervene in the market the way it did then, signalling that it is serious about exchange rate reform

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A bank employee uses a money-counting machine to count out 100-yuan notes at a bank in Shanghai on August 8. Photo: AFP
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