The People's Bank of China Surprises Currency Markets

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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