Chinese Yuan Falls To Near 3-month Low Against U.S. Dollar
November 22 2015 - 9:13PM
RTTF2
The Chinese yuan weakened against the U.S. dollar in the
pre-European session on Monday.
Against the greenback, the yuan fell to nearly a 3-month low of
6.3901 from Friday's closing value of 6.3835.
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 6.3867 per dollar, compared to Friday's reference rate of
6.3780. 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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