The Chinese Yuan plunged to 10.1655 against the European currency at 12:30 am ET Wednesday. This set the lowest mark for the yuan since August, 22 2008. The next downside target level for the Chinese currency is seen around 10.38. The euro-yuan pair closed Tuesday's deals at 10.1418.

The People's Bank of China has set today's central parity rate for the euro-yuan pair at 10.1339.

China has posted a trade surplus of $135.48 billion through the first nine months of the year, the government said today.

Imports were down 20.4 percent on year for the period of January through September, the data showed. For September alone, imports shed 3.5 percent on year versus expectations for a 15.0 percent annual decline.

Exports fell 21.3 percent on year through the first nine months of the year. In just September, exports were down 15.2 percent compared to forecasts for a 21.0 percent annual contraction.

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