Yuan loses value in spite of high daily fixing

Source: WBP Online
© Reuters
Despite the 11 year highest daily exchange rate fix by the PBoC, the Chinese Yuan fell 0.06% onshore to trade at 6.4795 against the US Dollar after opening, staying in the bounds of the daily guidance restriction of 2%. The 0.6% increase in the daily fixing did not, however, hinder the Hong-Kong traded equivalent to meet the 6.4837 Yuan mark, which is the firmest rate this week.
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