The yuan continues to update a six-year low against the dollar, the economic information Agency PRIME

BEIJING, Oct 28 /PRIME/ Zhanna Manukyan. The Chinese Renminbi on Friday once again hit a six-year low against the U.S. dollar after the country’s Central Bank dropped by another 0.17 percent.

the people’s Bank of China on Friday set the average exchange rate of the yuan to the dollar at around 6,7858, which is 122 points above the fixing on Thursday when the rate was 6,7736

the yuan since mid-October is at its lowest level since September 2010 and on Friday, the newly updated six-year low.

last week, the official representative of the State statistical Bureau of China Sheng Liuni said that the recent devaluation of the yuan due to external factors and the reason for the continuous depreciation of the Chinese currency not.

In August of 2015, people’s Bank of China weakened sharply, the yuan to the dollar (from 3% from 6.20 to 6.40), a shock to world stock

markets. Later, the Chinese Central Bank focused on the stabilization of the yuan. After this happened three more waves to the weakening of the Chinese currency: in the winter of 2015/2016 (to 6.55), in July 2016 (to 6.67), and the third began in October.

After the first wave the experts argued that the Central Bank deliberately devalue the yuan to stimulate exports. Premier Li Keqiang, Governor Zhou Xiaochuan and other officials denied these statements.