News Column

Yuan Falls To 4-day Low Against US Dollar

August 11, 2014

BEIJING (Alliance News) - The yuan weakened against the US dollar in the Asian session on Tuesday.

Against the greenback, the yuan fell to a 4-day low of 6.1576. At yesterday's close, the yuan was trading at 6.1533 against the greenback.

If the yuan extends its downtrend, it is likely to find support around the 6.17 area.

The People Bank of China set today's central parity rate for yuan at 6.1517 per dollar, compared to Monday's reference rate of 6.1522. The central bank sets the reference rate every morning and allows the currency to move upto 2% from that level.

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Source: Alliance News

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