China’s yuan extended losses to a level closest to the weak end of its allowed trading band since a shock currency devaluation in 2015.
The onshore yuan fell to 7.1280 per dollar, 1.94% weaker than the central bank’s daily reference rate of 6.9920 on Friday. The currency hasn’t been this close to the weak end of the fixing band, which limits the exchange rate’s moves by 2% on either side, since the People’s Bank of China devalued the yuan in 2015.
