The new year heralds in disturbing news for China Central Bank as they conduct reforms in foreign exchange, open market capital account and interest rates as the Yuan dips lower.
The Governor of China’s Central Bank,Zhou Xiaochuan said that structural reforms will be the hardest obstacle facing China together with the fragile market and the slow down in the economy.
Markets were quick to react as global investors started to panic as the Yuan dropped 503 bps against the dollar.
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