Another devaluation of the RMB: Causes and Consequences (Part 1)

China remains faithful to the chosen course and periodically devalue the yuan. China's national currency has lost 12 consecutive sessions, and as a result, by early November the dollar was worth more than 6.9 yuan. So cheap the yuan was not worth since 2008. China's central bank stopped this trend only recently, raising the so-called reference value of the currency by 0.3%. However, that did not helped the general trend of the Chinese currency. Will it help in the future, and most importantly - is approaching or moving away the time when the Chinese currency will cease to be an exotic?
On the one hand, the behavior of the Chinese financial authorities, until recently, is quite consistent with the chosen strategy of the country to maintain the internal market and to create the most transparent environment for speculative operations with currency. Currency trading with the yuan on the mainland Exchange (Shanghai Currency Exchange) are inert - they are strictly regulated by the Central Bank. Trading on the Hong Kong Stock Exchange fully justified the possible settlement of the Chinese authorities to attract players for a fall. Even after the news about the increase in the reference value of the yuan against the dollar in Hong Kong, it continued to fall.