The onshore yuan, which trades in Shanghai, declined 0.2 per cent to 6.6462 on Friday morning. The offshore yuan dropped 0.1 per cent to 6.6518 per US dollar in Hong Kong. Photo: Reuters

Yuan falls sharply after PBOC cuts fixing most in seven weeks

Central bank sets daily mid-point rate at 6.6543 against the US dollar, weaker by 0.3 per cent

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The onshore yuan, which trades in Shanghai, declined 0.2 per cent to 6.6462 on Friday morning. The offshore yuan dropped 0.1 per cent to 6.6518 per US dollar in Hong Kong. Photo: Reuters
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