Chinese Yuan Falls To Near 2-month Low Against U.S. Dollar
November 27 2014 - 11:32PM
RTTF2
The Chinese yuan strengthened against the U.S. dollar in the
Asian session on Friday.
Against the greenback, the yuan fell to nearly a 2-month low of
6.1480 from an early high of 6.1320. At yesterday's close, the yuan
was trading at 6.1390 against the greenback.
If the yuan extends its downtrend, it is likely to find support
around the 6.16 area.
The People Bank of China set today's central parity rate for
yuan at 6.1345 per dollar, compared to Thursday's reference rate of
6.1320. 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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