China sprung a financial surprise Tuesday, Aug. 11, when it announced it would devalue the yuan. The same day, the currency fell 1.9 percent, the largest one-day drop in 10 years, to close 6.32 against the US dollar. It dropped a further 1.6 percent Wednesday, Aug. 12.
For the full story, visit http://www.globalsources.com/NEWS/China-yuan-devaluation-importing-just-got-cheaper-08122015.HTM