The Chinese yuan weakened against the U.S. dollar in the Asian session on Monday.
Against the greenback, the yuan fell to a 4-day low of 6.1990. At Friday’s close, the yuan was trading at 6.1974 against the greenback.
If the yuan extends its downtrend, it is likely to find support around the 6.24 area.
The People Bank of China set today’s central parity rate for yuan at 6.1165 per dollar, compared to Friday’s reference rate of 6.1131. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level.
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