The yuan traded near its lowest level in six years as the government struggles to plug loopholes in capital controls.

The exchange rate dropped by 0.05 percent to 6.7806 per dollar as of 5:15 p.m. in Shanghai, after a 0.3 percent slump Monday that was the biggest in a month. The latest data show China's foreign-exchange reserves dropped last month by the most since January while exports plunged 7.3 percent, adding pressure for further currency weakness. The yuan slid for a sixth day against a basket of peers.

Officials have stepped up measures to curb outflows as investors seek to hedge against a weakening currency and traders ascribed a higher likelihood that Hillary Clinton will become the next U.S. president. In recent weeks, China limited the use of UnionPay Co.'s cards to buy insurance products in Hong Kong, while Bloomberg News reported authorities are planning to curb transactions that use bitcoins to shift funds out of the country.

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