人民幣

PBoC cuts renminbi fix by most on record

When all else fails, weaken the currency.

Chinese policy-makers have undertaken numerous innovative measures to stimulate the economy and stock market recently, but today it went old school: the central bank weakened the daily fix by its most on record.

Each day at 9:15am local time the People's Bank of China fixes the currency at a certain point, allowing investors to trade the currency within a 2 per cent band of the mid-point each day.

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