Chinese Yuan Falls To More Than 3-month Low Against U.S. Dollar
November 29 2015 - 6:34PM
RTTF2
The Chinese yuan weakened against the U.S. dollar in the Asian
session on Monday.
Against the greenback, the yuan fell to more than a 3-month low
of 6.3959 from Friday's closing value of 6.3875.
If the yuan extends its downtrend, it is likely to find support
around the 6.42 area.
The People Bank of China set today's central parity rate for
yuan at 6.3962 per dollar, compared to Friday's reference rate of
6.3915. The central bank sets the reference rate every morning and
allows the currency to move upto 2 percent from that level.
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