The two-day depreciation is the biggest since 2005 when China unpegged the yuan against the US dollar. Photo: AP The two-day depreciation is the biggest since 2005 when China unpegged the yuan against the US dollar. Photo: AP
The two-day depreciation is the biggest since 2005 when China unpegged the yuan against the US dollar. Photo: AP

‘No downward spiral for yuan’: China’s central bank tries to play down fears of further depreciation, currency war

Wednesday's surprise move by the People’s Bank of China added to concerns over the health of the world’s second largest economy and fuelled worries of a possible 'currency war' in Asia

Topic |   China yuan devaluation 2015
The two-day depreciation is the biggest since 2005 when China unpegged the yuan against the US dollar. Photo: AP The two-day depreciation is the biggest since 2005 when China unpegged the yuan against the US dollar. Photo: AP
The two-day depreciation is the biggest since 2005 when China unpegged the yuan against the US dollar. Photo: AP
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