{"id":295,"date":"2005-07-21T19:42:10","date_gmt":"2005-07-21T11:42:10","guid":{"rendered":"http:\/\/www.chinacsr.com\/2005\/07\/21\/china-revalues-yuan\/"},"modified":"2005-07-21T19:42:10","modified_gmt":"2005-07-21T11:42:10","slug":"china-revalues-yuan","status":"publish","type":"post","link":"https:\/\/www.chinacsr.com\/en\/2005\/07\/21\/295-china-revalues-yuan\/","title":{"rendered":"China Revalues Yuan"},"content":{"rendered":"<p>Tonight at 7PM in Beijing, the People's Bank of China loosened its fixed-exchange rate against the dollar and instead pegged it to a basket of currencies.<br \/>\n<!--more--><br \/>\nThis move is meant to cool the economy by strengthening China's currency, and it will affect those companies who have signed contracts pegged against the US dollar in China.<\/p>\n<p>The yuan is now valued at 8.1 to the US dollar, and previously it was pegged at about 8.3. It is unclear exactly what currencies are being used, but most likely they include the euro, Japanese yen and other Asian currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tonight at 7PM in Beijing, the People's Bank of China loosened its fixed-exchange rate against the dollar and instead pegged it to a basket of currencies.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-295","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China Revalues Yuan - ChinaCSR.com - Corporate Social Responsibility (CSR), Business Intelligence, and Sustainability News for China<\/title>\n<meta name=\"description\" content=\"Tonight at 7PM in Beijing, the People&#039;s Bank of China loosened its fixed-exchange rate against the dollar and instead pegged it to a basket of currencies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.chinacsr.com\/en\/2005\/07\/21\/295-china-revalues-yuan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Revalues Yuan - 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