The Chinese yuan slipped against the U.S. dollar in the Asian session on Monday, as rising political turmoil in Hong Kong dampened investor sentiment.

The yuan declined to a 4-day low of 7.0089 against the greenback from Friday's closing value of 6.9953. The next possible downside target for the yuan is seen around the 7.2 region.

The People's Bank of China set today's central parity rate of the yuan at 6.9933 per dollar, compared to Friday's rate of 6.9945.The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.

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