People's Bank of China guides yuan up but weak outlook remains

January 8, 2016 7:15 AM

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People's Bank of China guides yuan up but weak outlook remains

Convulsions in the currency market have been at the heart of investors' concerns in recent sessions and have tested the resolve of Chinese policymakers, just months after the International Monetary Fund (IMF) announced plans to include the currency in its Special Drawing Rights (SDR) basket..

For one, the weakness in the yuan has fanned speculation that China is trying to use the currency to goose its economy, which is currently growing at its slowest pace since the global financial crisis.

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