China's yuan sank the most since the aftermath of the shock devaluation of the currency in August 2015 after trade surplus figures missed estimates and amid speculation policy makers will step up efforts to rein in gains.
The onshore spot rate weakened 0. 6 percent to 6. 3195 against the dollar as of 2:02 p. m. in Shanghai, after dropping as much as 1 percent earlier. The currency extended losses after China reported a much narrower trade surplus than expected, on the back of a jump in imports. Volatility surged, and the gap between onshore and offshore rates tripled compared with the same time on Wednesday.
Source: BBC News
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