The onshore yuan briefly reached its lowest level against the US dollar in nearly 16 years last week.
The onshore yuan, whose trade is regulated by Beijing, last week briefly hit its lowest level against the US dollar in almost 16 years. The PBOC said in a statement Monday that it had convened a “special meeting” to discuss “the recent situation in the foreign exchange market and issues around the exchange rate of the renminbi”, the official name for the yuan.
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