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China further weakens yuan rate as currency row simmers

By AFP | Aug. 7, 2019
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Chinese Yuan
The People's Bank of China on Wednesday fixed the yuan's central parity rate at 6.9996 per US dollar, weaker than the level set on Tuesday, when it hit an 11-year low [Photo, AFP]

China's currency weakened further against the dollar as the central bank lowered the yuan's daily reference rate again amid a deepening currency row between Beijing and Washington.

The People's Bank of China on Wednesday fixed the yuan's central parity rate at 6.9996 per US dollar, weaker than the level set on Tuesday, when it hit an 11-year low.

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