News > China's currency plunge seen similar to 2015 shock devaluation

China's currency plunge seen similar to 2015 shock devaluation

Ahmedabad Mirror | 29/04/2022 03:56 PM | Click to read full article

More than six years after China's shock 2015 devaluation roiled global markets and spurred an estimated $1 trillion in capital flight, the yuan is weakening at a similar pace, says a media report.

Onshore, it has lost nearly 4 per cent in eight days, while the offshore rate is heading for its worst month relative to the greenback in history, said the Bloomberg report.