Offshore yuan losing value against US dollar

Chinese currency renminbi continues to lose value against the greenback in 2016. In early trading on Tuesday, the offshore yuan against the US dollar dropped nearly 100 basis points to more than 6.64.

This refreshed Monday's reading of 6.6231, which had been the lowest recorded in five years. The onshore yuan midpoint set at 6.5169 on Tuesday, the lowest since April 2011.