What's Chinese for dartboard?
The People's Bank of China set the reference rate for the renminbi at 6.4010, or 1.1 per cent weaker from its level of 6.3306 on Wednesday. All eyes and ears will now be on a rare People's Bank of China press conference at 10.15am Beijing/Hong Kong time to explain the renminbi's depreciation.
The "onshore" renminbi closed 1 per cent weaker at 6.3858 per US dollar on Wednesday, but had been down by nearly 2 per cent until authorities stepped in late in the session and propped up the currency.
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