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Traders kept a close eye on the Renminbi exchange rate Monday morning following the central bank's announcement on the yuan's mid-point rate.
After saying it will introduce increased flexibility of the exchange rate regime over the weekend, China's central bank set the yuan's daily mid point at 6.8275 against the dollar this morning. This was unchanged from the mid-point last Friday. Meanwhile, the yuan has strengthened to a seven week high in the overseas markets.