SHANGHAI -- China has updated the way it calculates its daily reference rate for the yuan in an effort to curb the currency's rapid appreciation over the past few months.
Currencies
China pumps brakes on yuan's surge with loosened controls
Banks drop key counter-cyclical factor in guiding currency
The Chinese yuan has appreciated by about 7% since May. (Photo by Yusuke Hinata)
Read Next
%EF%BC%89%E3%83%87%E3%82%B8%E3%82%BF%E3%83%AB%E4%BA%BA%E6%B0%91%E5%85%83%E3%83%BB%E9%96%A2%E9%80%A320201026011228.jpg?width=700&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=394)
Latest on Currencies
