China devalues yuan for third straight day, adding to fears of currency war
by Staff and agencies in Shanghai from on (#H7XW)
Central bank weakens currency further by 1.1% after previous official cuts that put global financial markets on edge
China cut the reference rate for its currency for the third straight day on Thursday, after the surprise devaluation of the yuan this week unsettled global financial markets.
The central bank put the yuan's central parity rate at 6.4010 yuan for US$1, the China Foreign Exchange Trade System said, a drop of 1.11% from the previous day's 6.3306.
Related: China stuns financial markets by devaluing yuan for second day running
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