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China's Yuan to Be Tied to Several Currencies

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China's Yuan to Be Tied to Several Currencies

Analysis

China's Yuan to Be Tied to Several Currencies

China's Yuan to Be Tied to Several Currencies

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  • <iframe src="https://www.npr.org/player/embed/4765049/4765050" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

China's bow to international pressure and revalued its currency. The yuan will be revalued by 2.1 percent, less than what the United States wanted and perhaps not enough to satisfy congressional critics who want protectionist measures to stem the flow of Chinese imports. The yuan will now be pegged to a basket of international currencies.

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