HONG KONG: China's offshore yuan dropped to its weakest in 17 months on Tuesday, and neared the symbolic level of 6.7 to the dollar, as foreign investors remained bearish towards Beijing with COVID-19 lockdowns weighing on the outlook for economic growth.
The offshore yuan weakened to as much as 6.6979 per dollar in early afternoon trade, its lowest since November 2020. The onshore market is closed from Monday to Wednesday this week.
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