The yuan fell to a five-month low on Tuesday despite efforts by Beijing to stabilise the exchange rate, the South China Morning Post reported, as markets wobbled in the wake of further trade threats from Washington.
The Chinese currency finished the day down 0.56% at 6.4743 against the dollar – its lowest rate since January 11th.
The government sets a daily reference rate, which traders are allowed to trade up to 2% either side of. Tuesday saw the midpoint rate climb 71 basis points from Monday, showing Beijing was taking measures to stop the currency’s value falling further.
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