The yuan dropped against the United States dollar last week as data showed China's economic growth slowed in the first three quarters of 2008.
The Chinese currency finished at 6.8433 against the US dollar on Friday, according to the China Foreign Exchange Trade System. The yuan fell from 6.8340 a week ago. Economists expect a slowdown in the yuan's pace of appreciation next year to help the country's exports battle tough times ahead amid gloomy external demand.
The National Bureau of Statistics announced on Monday that China's economic growth for January to September slowed to 9.9 percent, a drop of 2.3 percentage points from the same period last year and also the slowest pace in five years.
China's finance minister said last week that export rebates will be raised on about 3,400 varieties of goods from Saturday, a move seen as a boost to exporters.
(Shanghai Daily October 27, 2008)
