外文标题：China devalues currency by 1.9%; intervention by RBI halts Rupee’s slide
MUMBAI: China's unexpected devaluation of the yuan saw it plunge by the most in two decades, setting off a shock wave that caused currency markets in Asia and elsewhere to tumble. The rupee was no exception but traders said the Reserve Bank of India intervened in the market to make sure that the drop was cushioned as much as possible.
The Chinese central bank cut its daily reference rate by 1.9 per cent on Tuesday amid its sharpest economic slump in about 25 years. In recent weeks, the government there has had to implement emergency measures to prop up shares amid a stock market rout.
The surprising devaluation of Yuan will impact global markets with more aggressive play by China to revive its sagging economy and ramp up global demand.
Symon Venat (India)
This will see more Chinese in world markets as the benefit of devaluation of Yuan goes to Chinese exporters. India will continue to get more cheaper Chinese goods which may give stiff competition to Indian manufacturers. RBI Governor had given a clear hint on this during his speech in New York last month.
in the case, there RBI taken the good decision for EOL < maximum loss, but have to ascertain foreign exchange value by market determined exchange rate than restriction otherwise price inflation could be higher
DIL J (Unknown)
Made in China will be cheaper and Indian products will be termed as expensive
due to econmic slump