The yuan has lost 2.5% against the dollar this month and is on course for its biggest monthly drop since April when Covid lockdowns were imposed in Shanghai and other cities

The yuan rebounded Thursday from a two-year low against the dollar after a firmer-than-expected setting and news forex regulators phoned banks to get them to ease dollar buying

The plan being discussed by the two nations would enable the use of Russia's Mir cards at India ATMs and Point of Sale terminals, and India's RuyPay cards in Russia, said the report.

The onshore yuan opened at 6.82 per dollar and touched a low of 6.8308, the weakest level since Sept 2020, while its offshore counterpart fell to a near two-year low of 6.852

The onshore yuan dropped 0.47% to 6.7950 per dollar on Tuesday, its lowest since May 16, on concern about its recovery from recent Covid lockdowns.

The dollar was unable to recoup losses after it slid 0.68% over night, as investors remained on the sidelines awaiting US jobs data

India's trade deficit and global flows to safe-haven US dollars are key reasons why analysts expect the rupee to trade near its historic low to the dollar over the next three months.

The yen has risen by almost 4.5% over the five last trading sessions, reaching a high of almost 130.4 yen to the dollar in London on Tuesday

The yuan on Monday extended a decline it has endured for the past five months, while China's economy remains mired in concerns about Covid and heightened international tensions

The Japanese currency was boosted by bets US interest rates are close to a peak after the world's biggest economy contracted in the June quarter

The traders have been critical of the gap between the market rate and the regulated exchange rate of the local kyat and US dollar, The Global New Light of Myanmar said.

The slide has deepened an already difficult economic crisis, as Pakistan struggles with depleting foreign currency reserves and a current account deficit