SHANGHAI: The yuan edged higher against the dollar on Monday after China posted second-quarter economic growth within expectations, easing jitters over the health of the world's second-largest economy.
Spot yuan was trading at 6.1368 versus the dollar at noon, inching up 0.01 percent from Friday's close, despite the People's Bank of China (PBOC) setting its daily midpoint at 6.1663, 0.05 percent weaker than Friday's fix.
Traders said market supply and demand for dollars was roughly balanced on Monday, although corporates have become more inclined to keep dollars on hand in recent weeks amid worries over the pace of China's economic recovery.
Gross domestic product growth slowed in the second quarter to 7.5 percent year-on-year from 7.7 percent in the first quarter, the National Bureau of Statistics said.
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