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How China’s Stock Market Crash Influenced Today’s Yuan Devaluation
The Chinese central bank would never admit it, but China’s stock market crash surely weighed on its decision today to devalue the yuan.
The news had an immediate impact, with the yuan falling nearly 2% against the U.S. dollar. It marked the biggest one-day plunge since 1994.
But the timing of the move suggests that China’s stock market crash also has played a role.
Here’s why China decided the devaluation of the yuan could not wait…
Tags: China Currency, China’s stock market crash, Chinese stock market crash, Chinese Yuan, devaluation of the yuan, stock market crash, Yuan, yuan devaluation
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