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China's yuan hits 2-week low as investors weigh PBOC foreign exchange reserve hike
SHANGHAI: China’s yuan slid to a more than two-week low against the dollar on Wednesday, pressured by weaker official guidance, while investors continued digesting the central bank’s decision a day earlier to raise foreign currency reserve requirements. The onshore yuan eased to a low of 6.6832 per dollar in morning deals, the weakest level since October 19, before changing hands at 6.6794 as of 0303 GMT. Its offshore counterpart followed the weakening trend and last fetched 6.6782 per dollar, down about 0.13% in Asian trade. The yuan’s sudden turnaround came after the People’s Bank of China s...
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