Exact(9)
The cash created to keep the yuan down is mopped up by forcing China's banks to buy low-yielding "sterilisation" bonds or to hold more cash in reserve.
On the one hand, many observers believe China is trying to drive the value of the yuan down, which would help its flagging export sector by making Chinese-made goods cheaper to buy.
To keep the yuan down, the central bank will end up adding more dollars to its stockpile, not fewer.Foreigners will be keen to acquire yuan, and reluctant to part with it, for as long as they think it is artificially cheap.
At the hospital pharmacy, a list of the old and new prices of medicines scrolls endlessly on a huge digital display, like a stockmarket update: ceftriaxone (an antibiotic) at 57.13 yuan, down from 65.69; Hirudoid cream (for bruising), down to 27.41 from 31.52.But some patients are sceptical.
As the greenback fell this year, it dragged the yuan down with it.
In contrast, "dry goods" (long buried) fetch just 300-500 yuan down the Shanxi coal mines.Such incentives prompted Song Tiantang to kill.
Similar(51)
By the end of Tuesday, the renminbi, also known as the yuan, closed down 0.2 percent at 6.8136 renminbi per dollar.
The yuan is down more than 1 per cent against the dollar this year, having been allowed to weaken by 4.5 per cent over the course of 2015 by the central bank.
On Tuesday, though, the central bank announced a value that was roughly two per cent lower than the day before, and the yuan quickly traded down to that level.
"The whining about the yuan has died down quite a bit because exports are going like a train," Peter J. Morgan, chief economist for HSBC, said of complaints heard in Japan last month about China's long-fixed exchange rate.
But in the last month, as the economy has got into trouble, it started to push the yuan's value down again.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com