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Yuan mid-point set at 6.7901

06-29-2010 13:47 BJT

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The People's Bank of China has set the yuan's daily mid-point at 6.7901 against the dollar on Tuesday, as the yuan appeared to begin stabilizing after a brief spike last week.

The yuan closed slightly lower on Monday after hitting its highest level on Friday since its July 2005 revaluation. It has risen by 0.5 percent in the first week after the country restarted its currency policy reform.

The central bank ruled out the possibility of an one-off revaluation. Many dealers expect 2-way volatility in spot yuan trading to remain.

Editor:Xiong Qu |Source:

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