SHANGHAI: China’s central bank on Thursday set its central rate for the yuan currency at a four-year low against the US dollar, a move analysts said reflected reduced expectations for the unit following a devaluation.
The yuan was fixed at 6.4085 to the greenback, according to the China Foreign Exchange Trade System, just 0.07 percent weaker from the previous day. But it was the lowest since August 2011, the Shanghai Securities News said on its website.
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