Yuan Falls Most Since December 2008 on Signs PBOC to Curb Gains
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China’s yuan declined the most since December 2008 on speculation the central bank will intervene to limit gains after dropping a two-year peg to the dollar.
The yuan weakened 0.23 percent to 6.8136 per dollar as of 5:30 p.m. in Shanghai, according to the China Foreign Exchange Trade system. The 12-month non-deliverable forward was little changed at 6.6402, reflecting bets for 2.9 percent appreciation in one year’s time.