China's yuan was little changed on Thursday, with strong corporate demand for dollars counteracting the eight-and-a-half-month high midpoint set by the central bank, traders said. By midday, spot yuan stood at 6.1392 per dollar, almost unchanged from Wednesday's close.
The People's Bank of China (PBOC) fixed the yuan's daily midpoint at 6.1320 per dollar, the highest level since March 17, up 0.06 percent from the previous day's fix. Traders said corporates and individuals are keeping more dollars on hand as investors bet on further policy easing after the central bank cut benchmark interest rates last Friday.
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