Chinese Yuan Trades Near 8-month Low Against U.S. Dollar
January 26 2015 - 1:03AM
RTTF2
The Chinese yuan traded lower against the U.S. dollar in late
Asian deals on Monday.
The yuan fell to 6.2572 against the greenback, its lowest since
June, 2014. The next possible downside target for the yuan is seen
around the 6.3 zone. The pair was worth 6.2283 at Friday's
close.
The People's bank of China set the central parity rate for the
yuan at 6.1384 per dollar, weaker than the Friday's reference rate
of 6.1342. The Chinese central bank set the central parity rate
every morning and allows the currency to fluctuate upto 2 percent
from that level.
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