Yuan depreciates on reduced reference rate

After gaining throughout the last three days, China's Yuan depreciated on central bank's lowered reference rate. The value of Yuan has to be held within the permitted reference rate of 1%. The currency dropped 0.03% to 6.2392 per dollar, after advancing 0.76% the prior month. End October the Yuan reached its highest level against the dollar of 6.2371, which was the strongest since 1993.