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China's central bank devalued its currency Tuesday in what it said was a one-time move to make rates more market-oriented.
中国的中央银行星期二宣布人民币贬值，同时表示这是一次性举措，目的是让人民币汇率更符合市场状况。
The yuan is allowed to fluctuate 2 percent above or below a central point set daily by the People's Bank of China (PBOC). The PBOC cut the central rate by 1.9 percent as a result of the change that it said would enhance "the market-orientation and benchmark status of central parity."
按照规定，人民币汇率可在中国人民银行每天设定的中间价上下2%区间浮动。中国人民银行因此将人民币汇率中间价降低了1.9%，并称此举会增强“以市场为导向和中间价的基准地位。”
Beginning Tuesday, the PBOC said the central point would reflect the previous day's closing price "in conjunction with demand and supply condition in the foreign exchange market and exchange rate movement of the major currencies."
中国人民银行说，从星期二开始，人民币中间价将反映上一天的收盘价，并综合考虑外汇市场的供求状况以及各主要货币汇率的浮动情况。
A drop in the yuan will make China's exports cheaper overseas. Tuesday's move follows the announcement that July exports were down more than 8 percent from the same time last year.
人民币贬值将使中国出口产品的价格更低。在中国人民银行星期二决定人民币贬值之前，中国公布的数据显示7月份出口额比去年同期减少8%以上。
