(VOVworld) – The People’s Bank of China, China’s central bank, devalued the renminbi by 2 percent, the biggest change in the past 3 years. 

China has devalued the renminbi by nearly 2% against the US dollar to help boost the country’s exports. (Photo: Imaginechina/Corbis)

The adjustment jarred Asian markets. The Singapore dollar was off 0.6 percent. The Republic of Korea’s won was down 1.2 percent. The Asian securities market also went down. According to analysts, 8 groups will be affected by the devaluation: securities investors, real estate investors, overseas students, people buying overseas goods, overseas travelers, large export enterprises, enterprises that use a lot of renminbi, and foreigners investing in China for profit.