The renminbi was steady in the immediate wake of Beijing reporting the slowest quarterly growth figure for China in almost a decade on Friday.
China’s GDP expanded 6.5 per cent year-on-year in the third quarter, its slowest rate of growth since the financial crisis and missing analyst expectations.
China’s onshore renminbi exchange rate, which moves within a trading band of 2 per cent either side of a daily mid point set by the People’s Bank of China, was basically unmoved at Rmb6.9378. The offshore rate was a touch weaker at Rmb6.9403.
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