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The fund had been expected to include the Chinese yuan currency into its supplementary foreign exchange reserve assets on January 1, 2016.

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”.

Oil prices dived Wednesday as a government report showed that U.S. crude stockpiles of last week increased unexpectedly. The figure was 2.62 million barrels higher than it was the previous week, and disappointing to economists who had been expecting a decline of 820,000 barrels....

U.S. September crude was down $1.85 at $40.77 a barrel at 11:41 a.m. EDT (1541 GMT), having fallen to $40.60, the lowest front-month price since March 2009. It said markets will be tracking the eurozone, U.S., and Chinese flash PMI data on Friday very closely.

US crude oil, also known as West Texas Intermediate or WTI, was down 45 cents at US$40.35 a barrel by 0910 GMT, after hitting a new 6-1/2-year low of US$40.23.

PetroChina Co. paced losses for energy companies as oil extended its decline from the lowest close in more than six years.

A cheaper yuan is expected to aid exports for the world’s second-largest economy but also underlined concerns about the current status of the Chinese economy.

On its part, China has increased its presence on the continent funding major infrastructure projects in a number of Sub-Saharan Africa countries as it sort to gain a upper hand in deals that involve raw material for its fast growing industries back home.

In euro terms, gold is holding its own at above €1,000 per troy ounce. The rand is expected to come under more pressure from inflation and retail figures for July due on Wednesday. In addition, auto sales have remained healthy, as has the housing sector.

China’s decision on Tuesday to allow markets greater sway in setting the currency’s level triggered the biggest sell-off in 21 years and roiled global markets. The Chinese authorities assured everyone that this is a one-time step. The peso closed at 46.215 to the U.S....

Just as his remark about the female journalist is distasteful, his comment about the devalued Chinese currency is extravagant.

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.

Claiming the Centre is aware of the impact of Chinese yuan devaluation on Indian exports, the Minister said it would take steps to prevent dumping of Chinese good into India.

“The central bank will frequently intervene in the foreign-exchange market in the next three months because it needs to ensure the yuan is stable”.

Gold futures on the COMEX division of the New York Mercantile Exchange rose on a weaker US dollar.