Onshore yuan in Shanghai traded at 6.8941 to the US dollar by 10.15 am, 0.06 per cent or 0.004 points weaker than the 6.8900 seen at Tuesday’s close. The current traded at below the earlier lows hit this week, the lowest point since June 2008. Photo: AFP

Yuan hits new low as PBOC continues to depreciate currency

People’s Bank of China sets the yuan reference point at 6.8904, continuing the currency’s ongoing tumble

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Onshore yuan in Shanghai traded at 6.8941 to the US dollar by 10.15 am, 0.06 per cent or 0.004 points weaker than the 6.8900 seen at Tuesday’s close. The current traded at below the earlier lows hit this week, the lowest point since June 2008. Photo: AFP
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