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Forex News: Chinese Yuan Drops To Near 2-week Low Against

Chinese Yuan Drops To Near 2-week Low Against U.S. Dollar

01/23/2020 - 02:46:00 (RTTNews)

(RTTNews) - The Chinese yuan slipped against the U.S. dollar in the Asian session on Thursday, as fears of coronavirus outbreak dampened sentiment.

The yuan weakened to near a 2-week low of 6.9337 against the greenback from yesterday's closing value of 6.9039. The yuan is likely to find support around the 7.00 mark.

The People's Bank of China set today's central parity rate of the yuan at 6.8876 per dollar, compared to yesterday's rate of 6.8853. 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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