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China’s yuan touched a 3-1/2 month low against the dollar after the central bank set weaker midpoint, but had steadied slightly from the low by mid-day on Thursday.
The People’s Bank of China (PBOC) fixed the official midpoint at 6.1411 per dollar, down 0.06 per cent from Wednesday’s 6.1376. It was the lowest level since November 25.
Spot yuan changed hands at 6.1508 at mid-day, down 0.01 per cent from the previous day’s close of 6.1500. It touched 6.1599 in morning trade, the weakest level since August 22. The spot rate is currently allowed to trade 2 per cent above or below the midpoint.
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