China’s offshore yuan falls to fresh six-year low amid dollar strength

The dollar index rose to 98.841, its strongest level since Feb. 3.

By: Reuters | Hong Kong | Published:October 24, 2016 7:43 am
China Economy, China news, Latest news, China economic growth news, Latest news, China economy latest news, latest China news, world news, latest busienss news The onshore spot yuan fell below 6.77 per dollar, following another weak midpoint fixing set by the People’s Bank of China.

China’s offshore yuan slipped to a fresh six-year low against the U.S. dollar in early trade on Monday, in line with the weakness of the onshore yuan after the global dollar index hit the highest level in eight months.

The onshore spot yuan fell below 6.77 per dollar, following another weak midpoint fixing set by the People’s Bank of China.

The dollar index rose to 98.841, its strongest level since Feb. 3.