Chinese c.bank sets yuan mid-point at 6.8266

SHANGHAI, March 29 (Reuters) - The central bank set the mid-point of the yuan's exchange rate against the dollar on Monday as follows.



Mid-point Previous day's mid-point Previous day's close

6.8266 6.8268 6.8270



SOURCE: The People's Bank of China, the central bank, issues the data through the interbank market, the China Foreign Exchange Trade System (www.chinamoney.com.cn).

The yuan may rise or fall 0.5 percent from its mid-point each day, but it has moved only a small fraction of its band in most trading sessions since it was revalued by 2.1 percent to 8.11 per dollar on July 21, 2005.

In the three years following the revaluation, the central bank allowed the yuan to appreciate a further 19 percent against the dollar. The yuan's traded peak since the revaluation was 6.8099, reached on Sept. 23, 2008.

Since July 2008, however, the central bank has used the mid-point to keep the yuan at a virtual peg to the dollar within a narrow 100-pip range, to protect China's economy as it confronted a slowdown due to the global financial crisis.
(Reporting by Chen Yixin and Edmund Klamann)
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