Yuan Falls to Lowest Since November as Chinese Economy Sputters
- PBOC set another stronger-than-expected yuan fixing on Monday
- Yuan depreciation may help bolster slowing economy, HSBC says
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China’s yuan fell to the weakest level since November after a series of disappointing economic figures added to concern about the nation’s sputtering growth.
The offshore yuan dropped as much as 0.5% Monday to 7.2927 per dollar. The currency has now tumbled about 5% this year, the worst performer in Asia after the yen.