China's yuan touches 7-month high after better-than-expected Q3 growth

SHANGHAI: China's yuan rose against the dollar on Tuesday, matching a seven-month high of 6.1209 reached last week right after the government posted slightly better-than-expected economic growth for the third quarter.

The spot market opened at 6.1241 per dollar, and was changing hands at 6.1217 at midday, 0.02 percent firmer than the previous close.

Before trading began, the People's Bank of China (PBOC) set its midpoint rate at 6.1410 per dollar, up 0.04 percent from the previous fix.

China's gross domestic product (GDP) growth during July-September cooled to 7.3 percent from a year earlier, the weakest expansion since the global financial crisis, but slightly higher than expected.