SHANGHAI: China's yuan rose slightly against the dollar for the second straight day on Tuesday despite a flat midpoint fix by the central bank.
The People's Bank of China (PBOC) set the midpoint rate at 6.1655 per dollar prior to market open, only six points up from the previous fix.
The spot rate is currently allowed to trade 2 percent above or below the midpoint.
The spot market opened at 6.1775 per dollar, and was changing hands at 6.1758 by midday, up 0.04 percent from the previous close.
The spot rate was 0.17 percent above the midpoint, echoing a trend that began in mid July when the spot rate started trading increasingly close to the daily midpoint after spending several months in far weaker territory following the central bank's move to widen the trading band.
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