China's yuan strengthens 0.7% at open

February 15, 2016 6:23 AM

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China's yuan strengthens 0.7% at open

China's yuan opened trade at 6.5300 per dollar on Monday, strengthening 0.7 per cent from its previous close of 6.5755 before the long Chinese Lunar New year holiday, partly buoyed by a stronger central bank midpoint, traders said.

The People's Bank of China (PBOC) set its midpoint 0.3 per cent stronger prior to the market open, the official fixing's biggest rise since November 2 last year.

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