RTTN:Chinese Yuan Off 5-day Low Against U.S. Dollar
The Chinese yuan erased its early losses against the U.S. dollar in Asia on Wednesday.
The yuan is now trading at 6.1286 against the greenback, bouncing off from an early 5-day low of 6.1363. The greenback-yuan pair ended Tuesday's trading at 6.1262.
The People's Bank of China set today's central parity rate for the yuan at 6.1856 per dollar, compared to yesterday's reference rate of 6.1818. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1% from the level.
