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China Sets Yuan Fix at Weakest Since 2023, Greenlighting Decline. Another key aspect involves, china slashed the daily reference rate for its currency to a level unseen since late 2023, a sign the central bank is allowing depreciation after a surge in the dollar pummeled the yuan. The People’s Bank of China set its fixing at 7.1659 per dollar, largely in line with the average estimate in a ...
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