A move by China’s Central Bank to cut guiding rate for the national currency, the Yuan, has sent shockwaves throughout the Asian markets.
After Tuesday’s record 1.9% devaluation, the Yuan has fallen to another 1% on Wednesday, marking the biggest two-day lowering of its rate against the dollar in more than two decades.
The bank has since sought to calm fears, saying it was not the start of a sustained depreciation.
The new rate is meant to boost exports
Taiwan National Day Celebration
