China’s devaluation of its currency does not threaten a currency war, says credit rating agency Standard & Poor’s. Photo: Reuters

Credit rating agency Standard & Poors praises Chinese yuan devaluation

'China’s surprise move to allow for more exchange rate flexibility makes good economic sense and is not the start of a currency war or an attempt to jump-start growth,' S&P says

Topic |   China yuan devaluation 2015

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China’s devaluation of its currency does not threaten a currency war, says credit rating agency Standard & Poor’s. Photo: Reuters
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