BEIJING: The Chinese yuan fell against the US dollar on Thursday’s Asian deals, as the Chinese central bank set a weaker midpoint for the yuan to dollar exchange rate.
The yuan slipped to a 4-month low of 6.4408 against the greenback, from Wednesday’s closing quote of 6.4162. If the yuan extends slide, it may locate support around the 6.45 mark.
The People’s Bank of China set today’s midpoint rate at 6.4236 per dollar, 0.1% weaker than yesterday’s rate of 6.4140. The central bank sets the reference rate every morning and allows the currency to move up to 2% from that level.