The third wave of devaluation of the yuan is in full swing

It seems that the world is on the verge of another currency "war". Chinese Yuan in early summer renewed the lows again in pair with the US dollar, of course, not independently, but under the strict guidance of the People's Bank of China. China's regulator returned to its controlled currency devaluation to reduce the negative impact of the massive outflow of capital from the country. During 2015 China lost about $500 billion, about the same number are expected in the current year. This is "hot" money, which are present in some amount in each developing economy, but returned to the owner with the expansion of the spread in interest rates. Now that China stimulates its economy, while the US Federal Reserve is ready to toughen the terms of monetary policy, the currencies of developing economies may again come under pressure.