Friday, 9 December 2016

China's yuan weakens to 6.9000 per dollar

China's yuan weakened to 6.9000 per dollar on Friday morning. The weakness in the yuan followed a rise in the US dollar overnight after the European Central Bank decided to extend its debt-buying programme even as it cut the monthly amount. China set its official yuan midpoint at 6.8972 per dollar prior to the market open on Friday, 241 pips or 0.35 percent weaker than a day earlier, booking the biggest percentage loss since October 21.

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