On August 26, the People’s Bank of China (PBOC) announced a further devaluation of the Chinese currency to RMB 6.4033 against the US dollar, compared to the official rate of RMB 6.3987 on August 25. With the latest devaluation, on August 26 the Chinese currency has been devalued to RMB 7.3871 against the euro, RMB 10.0674 against the British pound, RMB 4.5679 against the Australian dollar, and RMB 4.8028 against the Canadian dollar, compared respectively to RMB 7.3989, RMB 10.0720, RMB 4.5811 and RMB 4.8207 on August 25. Many investors are concerned about the impact of the Chinese currency devaluations on the capital markets.