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10 months ago
Chinese yuan changes course, regains 6.7 to the dollar
October 10, 2016 / 3:57 AM / 10 months ago

Chinese yuan changes course, regains 6.7 to the dollar

SHANGHAI, Oct 10 (Reuters) - China's yuan strengthened back to above 6.7 per dollar level late Monday morning after hitting a six-year low against the dollar in early trade and breaching a key psychological threshold following a week-long national holiday.

The spot yuan traded at 6.6995 as of 0345 GMT after reaching a low of 6.7051, its lowest rate since September 2010.

The People's Bank of China put the midpoint at 6.7008 yuan per dollar. It was the weakest midpoint since September 2010. The currency is allowed to trade in a band of 2 percent on either side of the midpoint, which is set each day. (Reporting by Winni Zhou and John Ruwitch; Editing by Richard Borsuk)

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