The Yuan fell against the US dollar to 6.66, its lowest level since Nov. 13. Although the Public bank of china has set the Yuan’s exchange rate during today's trading, it has failed to stop the bleeding of the Yuan against the greenback following the decline in Chinese equities.
The Shanghai Composite fell by 2.4% during the day, while the CSI 300 index fell by 2.8%. The bank has set the currency at levels of 6.6157 in early trading today compared to Friday at 6.6166. And injected 20 billion Yuan into the markets as part of its weekly repurchase operations.