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China’s highly controlled currency, the yuan, recently dropped two percent in one day–its biggest drop in two decades. That was followed, the next day, by a 1.6 percent drop in value. It took place days after China announced that exports had fallen in July by more than eight percent from the previous year. Chinese officials say their devaluation of the currency will let markets play a greater part in setting the value of Chinese money on international exchanges. However, experts say the devaluation also will help Chinese exporters. Markets reacted to news of the decline in the yuan’s value. Stock market measures in Asia went down. The value of the Chinese yuan has been slowly rising for 10 years. Some experts say the recent losses in China’s stock market have also played a part. The yuan has been stable against the U.S. dollar for a year, averaging just over 6 yuan to the dollar. Other currencies, however, such as the Euro and Japanese Yen have weakened. That has put pressure on the yuan and hurt Chinese exports. Economist Brian Jackson is with IHS Economics China Regional Service. He says that over the past year, the increase in value of the yuan has meant that exports from China to countries besides the United States have cost 13 percent more. The People’s Bank of China says it is trying to make the currency more market oriented. Now, the daily level for the range of trading is based on a group of major currencies and the value of the yuan at the close of trading the day before.