Chinese Yuan Slides To Near 2-week Low Against U.S. Dollar
February 17 2020 - 9:46PM
RTTF2
The Chinese yuan underperformed against the U.S. dollar in the
Asian session on Tuesday, as investors assessed the potential
impact of the coronavirus on economy.
The yuan declined to near a 2-week low of 7.0041 against the
greenback from yesterday's closing quote of 6.9805. Immediate
support for the yuan is seen around the 7.02 mark.
The People's Bank of China set today's central parity rate of
the yuan at 6.9826 per dollar, compared to Monday's rate of 6.9795.
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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