NZ dollar falls vs. yuan on concern over Chinese devaluation

Thu, 27 Oct 2016

By Edwin Mitson Oct. 27 (BusinessDesk) - The New Zealand dollar fell against the Chinese yuan on concern Beijing's devaluation of its currency is a negative signal about the Chinese economy, the country's biggest export market. The kiwi fell as low as 4.8448 yuan after the announcement from 4.8524 yuan immediately before and was at 4.8462 at 5pm in Wellington. The kiwi traded at 71.51 US cents at 5pm in Wellington, compared to 71.49 cents at 8am and 71.56 cents yesterday. The yuan was fixed at a six-year low of 6.7921 yuan per US dol...

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