Beijing: Faced with sluggish economic growth and dwindling exports, China today devalued its currency for the second consecutive day, sending fresh shock waves through global markets and fuelling fears of a currency war as jittery Asian neighbours came under pressure to devalue as well. The central parity rate of renminbi, or yuan, weakened by 1,008 basis points, or 1.6 per cent, to 6.3306 against the US dollar, narrowing from yesterday’s […]