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The People’s Bank of China reformed the exchange rate formation system on August 11 to better reflect market development in the exchange rate of the Chinese yuan against the US dollar.

The cause of the global market volatility centres on fears that the world’s second biggest economy is slowing. “And I don’t see any signs of meaningful government intervention”.

The latest session saw the main index in Shanghai dive by a further 8.5%, deepening its recent heavy slump and meaning it has lost all its gains for 2015.

“The markets’ response to Chinese surprise devaluation of its currency against the US dollar is ample evidence that investors worry about further measures across Asian countries in order to prop up export competitiveness”, said Anand James, the co-head of the...

And now the People’s Bank of China has joined the parade. However, the stronger dollar over the past year constitutes a headwind for net exports and a drag on growth.

The People’s Bank of China (PBOC) suggests that the adjustment made to the value of the currency was due to the new method of calculating the daily price of the currency. But why should Western markets be anxious about a competitive devaluation of the Chinese currency? Note...

With foreign exchange reserves of around $3.65 trillion, China has plenty of scope to sell dollars and shore up its own currency.

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

The yuan tumbled 1.8 percent, the most in two decades, on the day of the devaluation and declines have since moderated as the PBOC intervened via agent banks and signaled its support for the currency.

Whatever you choose to call it, China’s currency this week roiled global markets after the central bank’s sudden move to devalue it. The decision sparked fears of a new currency war and even drew the ire of Republican presidential candidate Donald Trump.

Another drop in China’s currency sent global markets mostly lower on Wednesday as the move raised worries about the world’s second-largest economy, but US stocks finished mostly higher Wednesday as an afternoon rally led by Apple and energy equities overcame early...

The Nasdaq Composite Index closed up 7.60 points, or 0.2%, at 5,044.39, after being down as many as 91 points.