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A cheaper yuan will help Chinese exports by making them less expensive on overseas markets.

On Friday, the People’s Bank of China set the yuan midpoint at 6.3990 yuan to the dollar, slightly stronger than Thursday’s levels.

Particularly with uncertainty about the Chinese currency, “people are saying this is risk, and we step away from the market“. “Even then, the dependent question mark over growth will linger”.

The promise, which analysts said was designed to soothe investors’ frazzled nerves, came after the central bank’s shock devaluation of the yuan last week plunged global financial markets into turmoil.

China’s central bank on Friday raised the yuan currency against the US dollar by 0.05%, the national foreign exchange market said, ending three days of falls after a surprise devaluation.

In addition, to its attempts to restore export volumes it is also rumoured that the Chinese are hoping to achieve reserve currency status.

Unhappy and irritated by a question put to him by a female Fox News TV journalist during a debate between several Republican aspirants for the White House, he notoriously said she had blood coming out of her eyes and “wherever”.

The value of the yuan has gradually returned to market levels as the discrepancy between the central parity rate and the actual trading rate has been largely corrected after declines in the past few days, Zhang Xiaohui, assistant governor of the People’s Bank of China...

The central bank put the yuan’s central parity rate at 6.4010 yuan for $1.0, the China Foreign Exchange Trade System said, a drop of 1.11 percent from the previous day’s 6.3306.

It also compounded jitters over China’s financial health after a debt-fuelled stock market bubble burst in June, following a 150 percent surge in the previous 12 months.

China cut the reference rate for its currency for the third straight day, on Thursday after the surprise devaluation of the yuan this week unsettled global financial markets. The PBoC also “dismissed claims it intended to weaken the yuan by 10% to support exports as...

The People’s Bank of China said the change was aimed at making the tightly controlled yuan more market-oriented. The new exchange rate policy also tallies with the long-standing pledge by China’s leaders to let supply and demand play a “decisive role” in...

European stocks were still poised for their worst week in four, though, after China’s surprise currency devaluation on Tuesday.

Brent crude LCOc1 slipped 1.1 percent to US$49.13.

Asian stock markets stabilized Thursday as the fall in the Chinese yuan slowed and the country’s central bank tried to dampen speculation of further devaluation.