China's Currency Falls To Lowest Exchange Rate In 11 Years
The China's central bank appears to have orchestrated the renminbi's fall against the U.S. dollar. A weaker currency makes Chinese goods more competitive on the world market.
China's renminbi plunged to below seven per U.S. dollar on Monday morning, the lowest valuation for the renminbi in eleven years.
The slide in value comes as the U.S. and China remain locked in a trade dispute, leading some analysts to surmise that the devaluation is retaliation for additional U.S. tariffs
