China’s currency, the RMB, depreciated 1.86% on Tuesday and 1.6% on Wednesday, sparking a drop in the value of other Asian currencies.
On Wednesday, the New Taiwan Dollar dropped 3.85 US cents to NT$32.465 for one US dollar. That’s the lowest value in five years. The government statistics office has also announced that the growth rate for the second quarter was only 0.64% leading to a 111 point drop on the TAIEX Wednesday.