China reduces the yuan exchange rate to the lowest level in 19 months

China lowered the official Yuan exchange rate for the sixth consecutive day to its lowest level in 19 months against the dollar on Thursday. Prior to the opening of the market, the Chinese Volksbank established the official exchange rate allowed to trade within 2%, at 7.2092 for the dollar, which is the worst since September 11, 2023, according to ‘Reuters’. China aimed its currency, the Yuan, to a carefully coordinated rate, as the central bank tries to alleviate some of the effects of the trade war on the economy without destabilizing the financial markets. China is ready to fight until the end and the Chinese People’s Bank’s move came at a time when the trade war escalated between the two largest economies in the world, after US President Donald Trump decided to raise customs tariffs on China to 125%after answering the ‘mutual’ tariffs. This decision comes, after Chinese Minister of Trade Winto confirmed that his country wants to solve differences through consultation and negotiations, but if the US side is on the way, China will “fight for the end.” He added that “the SO -Called US fees have exchanged a serious violation of the legal interests of all countries.”