The yuan fell to its weakest level against the dollar since December 2010 after Britain’s vote to leave the European Union and global markets were sent on a roller-coaster ride.

China’s central bank tried to reassure markets last week, saying the expectations for the yuan against the currency basket are stable in the wake of the Brexit vote.

The Financial Street logo in Beijing is a symbol for a strong Chinese currency. It is here where the country’s top policymakers and commercial banks are headquartered. One issue they are currently busy with is the future direction of the China’s yuan. Standard Bank predicts the yuan will slide more against the greenback.

“The yuan has already been in a steady decline against the dollar since the Chinese government’s surprise devaluation of the currency last August, when the domestic stock markets lost more than 30 percent of their value in a month,” said Jeremy Stevens, Asia economist, Standard Bank.

After Brexit, the dollar’s strength will likely rise as investors opt for low-risk assets and the yuan will likely depreciate a bit more.

Trade-reliant economies often resort to weakening their currencies in a bid to make their exports cheaper and prop up their economies. But in China’s case, investors are concerned the yuan’s retreat could trigger another round of capital flight.

Premier Li Keqiang said last week that he would not allow post-Brexit panic to send China’s financial markets into a tailspin.

So what tools do policymakers still have available? British bank Barclay’s believes Brexit will burn 0.1 percent off the Chinese GDP in 2016 and 2017. That will be “manageable,” but it will not be easy.