The Hong Kong Interbank Offered Rate for offshore yuan, known as the CNH Hibor, plummeted to 14.05 per cent from last Friday’s 61.33 per cent, down 4,728 points. Photo: Kyodo

Chinese yuan weakens following biggest drop in reference rate in six months

Authorities set the mark 0.87 per cent or 594 point lower than last Friday, the biggest daily decline since late June in 2016

TOP PICKS

The Hong Kong Interbank Offered Rate for offshore yuan, known as the CNH Hibor, plummeted to 14.05 per cent from last Friday’s 61.33 per cent, down 4,728 points. Photo: Kyodo
READ FULL ARTICLE