On November 17, the People’s Bank of China (PBOC) announced a further devaluation of the Chinese currency to RMB 6.8692 against the US dollar, down 100 base points compared to the official rate of RMB 6.8592 on November 16. November 17 is the tenth consecutive day on which the Chinese currency has declined in value against foreign currencies.
On November 17, the Chinese currency stands at RMB 7.3551 against the euro, RMB 8.5529 against the British pound, RMB 5.1475 against the Australian dollar, and at RMB 5.1203 against the Canadian dollar, compared respectively to RMB 7.3592, RMB 8.5412, RMB 5.1777 and RMB 5.1006 on November 16.