INDIAN RUPEE NEWS 06 JANUARY 2016

The offshore yuan slumped to 6.6650 against the dollar, the lowest rate since the last quarter of 2010. The onshore yuan rate was 6.5418 against the dollar.

The latest trigger for the slump came after the People's Bank of China (PBOC) set the official dollar/yuan midpoint rate at 6.5314, the weakest fixing since 2011. The fix represented a 0.22 percent decline from the previous session, a faster pace than witnessed recently.

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