China's yuan flat despite a two-month low midpoint

HONG KONG: China's yuan was flat against the dollar on Thursday, though the central bank weakened the official midpoint to the lowest level in two months.

Spot yuan traded at 6.1149 per dollar near midday, almost no change from the previous day's close at 6.1146. It changed hands between 6.1146 and 6.1161 in morning trade.

The People's Bank of China (PBOC) set the midpoint at 6.1565, down 0.1 percent from Wednesday's 6.1503. It's the weakest level since Sept 4.

The spot rate is currently allowed to trade 2 percent above or below the midpoint.