March 20, 2020 / 1:44 AM / 14 days ago

PBOC sets yuan fixing at weakest since 2008

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

HONG KONG (Reuters) - The People’s Bank of China set the yuan guidance rate at 7.1052 per U.S. dollar on Friday, the weakest level since March 2008.

Onshore spot yuan is allowed to trade 2% either side of this mid-point rate. The currency finished late session trade at 7.1119 per dollar on Thursday.

Reporting by Noah Sin; Editing by Shri Navaratnam

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