China yuan weakness prompts support measures

Business & Technology

The People's Bank of China set the mid-point rate for the yuan at 6.9508 per dollar Friday, the lowest since May 2008, as "heavy capital outflows and a hawkish Federal Reserve raise currency pressures in the world's second-largest economy that the government says are manageable." Meanwhile, a series of charts produced by The Wall Street Journal shows that costs to borrow the yuan outside of China throughout the year were unpredictable compared with the U.S. short-term borrowing rates.