SHANGHAI: China's yuan was little changed on Monday as the central committee of the ruling party began a four-day plenary session focusing on improving the country's legal system.
Traders said the Chinese currency typically remains stable during such top Communist Party gatherings in the country.
China is expected to unveil key legal reforms after the meeting, which may be welcomed by local firms and foreign investors, but no economic policy decisions are expected.
The spot market opened at 6.1260 per dollar, and was changing hands at 6.1239 by midday, almost unchanged from the previous close.
Before trading began, the central People's Bank of China (PBOC) set its midpoint rate at 6.1435 per dollar, down 0.05 percent from last Friday's fix, but the fixing had no impact on trading, traders said. The spot rate is currently allowed to trade 2 percent above or below the midpoint.
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