The People's Bank of China Surprises Currency Markets

This entry was posted by Virginia Kozak on August 12, 2015 at 10:20 pm

The People's Bank of China Surprises Currency Markets

Chinese American depositary receipts (or ADRs) also reacted negatively to the devaluation news. Software company ADRs 58.com (WUBA) and Baidu (BIDU) plunged by 5.41% and 5.04%, respectively. The online retail giant Alibaba Group Holding Limited …

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