Markets

China's yuan firms slightly after last week's fall

Published August 25, 2014 Updated August 25, 2014 06:11am

1 min

By Shoaib Ur Rehman

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SHANGHAI: China's yuan firmed slightly against the dollar on Monday, with technical buying helping to offset a weaker central bank midpoint fixing after the currency's largest weekly loss in two months last week.

The People's Bank of China set the midpoint at 6.1653 per dollar prior to market open, down 0.06 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 6.1550 per dollar, and was changing hands at 6.1516 by midday, 0.02 percent stronger from the previous close.

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