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China central bank sets yuan mid-point at 6.7979

08-18-2010 08:53 BJT

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China's central bank set the yuan's daily mid-point slightly stronger at 6.7979 versus the dollar on Tuesday.

Analysts say the move is to soothe sentiment after the People's Bank of China let the yuan fall over the past week, in the wake of a global dollar rebound.

The mid-point rose nearly as much as 1 percent against dollar, after the central bank announced a depegging of the Chinese currency on June 19th. But it now stands only less than half a percent higher against the greenback.

Editor:Xiong Qu |Source: CNTV.CN

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