China Scraps Yuan's Peg to Dollar China bows to international pressure and announces it will revalue 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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China Scraps Yuan's Peg to Dollar

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China Scraps Yuan's Peg to Dollar

China Scraps Yuan's Peg to Dollar

China Scraps Yuan's Peg to Dollar

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  • <iframe src="https://www.npr.org/player/embed/4764517/4764518" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

China bows to international pressure and announces it will revalue 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.