No magic number

“I don’t think this is an important question. I don’t think along the mathematical scale any one number is more important than another number”


Central bank governor Yi Gang denies there is a hard limit of Rmb7 to the dollar that will cap the Chinese currency’s depreciation. In response to this comment on Bloomberg TV the onshore renminbi dropped 0.4% on Monday to Rmb6.9358, the currency’s weakest level since November.

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