Renminbi fixing: PBoC pulls its support
China's regulator will no longer prop up its currency using the so-called "counter-cyclical" factor after it hit 6.5 to the dollar. Treasurers may now have to change their assumptions.
When the renminbi plunged 4.4% in three days back in 2015, the general assumption, including among treasurers at companies doing business in China, was that it would keep on depreciating.
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