The Chinese currency is set to close out April by recording its steepest monthly drop on record, the Financial Times reported.
The yuan has fallen 4.6% this month to 6.63 yuan per dollar as of Friday afternoon. That is the biggest percentage fall since the currency was released from its peg to the US dollar in 2005.
Read the full report: Financial Times
READ MORE:
China Expands Digital Yuan Pilot Scheme to More Cities
Brazil’s Central Bank Quadruples its Yuan Reserves
China, Saudis Aim For Petro-Yuan – Sylvain Saurel