Chinese Yuan Falls To Near 5-week Low Against U.S. Dollar
06 May 2020 - 12:30PM
RTTF2
The Chinese yuan fell against the U.S. dollar in the Asian
session on Wednesday, as tensions between the U.S. and China
intensified over the spread of the coronavirus pandemic.
The yuan dropped to 7.0989 against the greenback, its lowest
level since April 2. The next possible support for the yuan is seen
around the 7.02 level.
The People's Bank of China set today's central parity rate of
the yuan at 7.0690 per dollar, compared to Tuesday's rate of
7.0571. 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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