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Currencies

Slumping yuan a new strain for Chinese consumers and airlines

Exporters' bottom lines set to benefit from weakened currency

Coffeeshops in China are having to raise prices as the country depends on imported beans.    © Reuters

SHANGHAI/HONG KONG -- Tracy Cao was hustling to serve a steady stream of customers ordering lattes and cappuccinos at her neighborhood take-away coffee shop in Shanghai one recent afternoon.

Residents who had been restricted to their homes for seven weeks as part of the city's COVID lockdown did not blink at paying 26 yuan a cup ($3.90) as they wandered outside for a few hours on temporary passes. Before Shanghai's outbreak, Cao charged just 19 yuan.

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