Chinese Currency Depreciation ‘Worrying’ for Exports: Commerce Minister


New Delhi: Commerce Minister Nirmala Sitharaman on Friday said depreciation of the Chinese yuan is “a worrying development” for the country’s exports.

China allowed the biggest fall in the yuan in five months on Thursday, pressuring regional currencies and sending global stock markets tumbling as investors feared it would trigger competitive devaluations.

India’s merchandise exports have been falling for the past 12 months.