Bloomberg.com, 4 Dec 2008, Patricia Lui
Dec. 4 (Bloomberg) -- Singapore’s central bank may let its currency fall by 2.3 percent as early as January after Chinese policy makers moved to weaken the yuan this week, said Goldman Sachs Group Inc.
The yuan plunged 0.7 percent on the first day of this week, the most since the dollar peg was scrapped in July 2005, after the People’s Bank of China set the reference rate at the lowest level since August. That spurred speculation Beijing is weakening the yuan to aid exporters and counter a looming global recession.
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