China's yuan rises on strong trade data, central bank midpoint

SHANGHAI: China's yuan firmed against the dollar on Monday, posting a nearly two-week high, after China released better-than-expected trade data for September and the central bank fixed its official rate stronger.

The People's Bank of China set its midpoint rate at 6.1446 per dollar prior to market open, up 0.04 percent from the previous fix. The spot rate is currently allowed to trade 2 percent above or below the midpoint.

The spot market opened at 6.1315 per dollar, and was changing hands at 6.1266 at midday, 0.07 percent firmer from the previous close.

China's exports rose more than expected in September while imports unexpectedly improved, data showed on Monday, bringing the trade surplus to $31 billion.