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The agencies
China's central bank set the yuan's mid-point of reference at 6.9996, stronger than the dollar on Wednesday (August 7th), two days after Washington called Beijing a currency manipulator.
The yuan has fallen in recent months, especially as the trade war between the US and China intensifies.
The central bank will raise the yuan to 6.9994 against the dollar on Wednesday. The central bank will set the yuan at 6.9683 on Tuesday, the lowest index since May 20, 2008.
The benchmark is a rate set daily by the central bank and allowing the currency to move at a predetermined rate.
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