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Onshore yuan closes slightly stronger than midpoint on Tuesday


07-20-2016 01:18 BJT

The Chinese currency Yuan closed its daylight trading at 6.6893, which was 96 points higher than the previous day.

It was also stronger than the currency's midpoint of 6.6971against the U.S. dollar fixed by China's central bank, which was the lowest in more than five years.

The yuan slipped below the psychologically important level of 6.7 to the US dollar on Monday night, beating market expectations. The yuan has lost more than 3 percent of its value against the dollar this year. However, the central bank earlier this month reiterated the yuan will not depreciate in the long term. 

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