The US dollar has gained strength after the UK's vote to leave the European Union. In this context, on June 27 the People’s Bank of
China (PBOC) announced a further devaluation of the Chinese currency to RMB 6.6375 against the US dollar, compared to the official rate of RMB 6.5776 on June 26. With the latest devaluation, on June 27 the Chinese currency has been devalued to RMB 7.3184 against the euro, RMB 8.9194 against the British pound, RMB 4.9384 against the Australian dollar, and RMB 5.085 against the Canadian dollar, compared respectively to RMB 7.4434, RMB 9.5899, RMB 4.9551 and RMB 5.1255 on June 26.