The sell-off in the renminbi deepened yesterday, as the biggest one-day fall in the Chinese currency took it to a six-month low against the dollar.
Analysts said the fall, now into its sixth consecutive day, is being engineered by the authorities ahead of possible changes to China’s foreign exchange regime.
The renminbi dropped as much as 0.4 per cent against the dollar in the onshore market during the Asian day, and has fallen almost 1 per cent since Wednesday.
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