Consider:
http://www.marketwatch.com/story/china-has-effectively-re-pegged-the-yuan-2015-08-10
Wherein the claim is made:
Indeed, the Chinese currency, also known as the renminbi, has been
remarkably steady over the past month despite the huge selloff in
China’s stock market and a spate of disappointing economic data.
Market
strategists, including Simon Derrick, chief currency strategist at BNY
Mellon, and Marc Chandler, head currency strategist at Brown Brothers
Harriman, said that’s because China’s policy makers have effectively
re-pegged the yuan.
“When I look at the dollar-renminbi right
now, that looks like a fixed exchange rate again. They’ve re-pegged it,”
Chandler said.
And now a few hours later:
http://www.afr.com/markets/currencies/australian-dollar-falls-as-chinese-yuan-devalued-20150811-giwco8
Wherein we learn:
The People's Bank of China sets a mid-point for yuan
trading against the US dollar each day. The rate has remained fairly
stable since March but Tuesday's devaluing is the largest on record.
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