July 20 - The People's Bank of China fixed the yuan's daily mid-point CNY=SAEC lower at 6.7812 versus the dollar on Tuesday after a weaker-than-expected fixing on Monday had already sparked worries over a possible halt of yuan appreciation in some parts of the market.
Mid-point Previous day's mid-point Previous day's close
6.7812 6.7800 6.7780
Since the PBOC announced a depegging of the yuan against the dollar on June 19, the Chinese central bank has kept a tight grip on the yuan's movements against the U.S. currency, with the yuan rising only 0.66 percent.
However, Beijing has apparently quickened the pace of internationalising the Chinese currency on other fronts.
China took a big step in that direction on Monday, tweaking rules to allow the sale of yuan-denominated financial products in Hong Kong and giving companies greater access to yuan funds. [ID:nTOE66I02Q]
China has also used yuan trade settlement as a starting point to gradually internationalise the currency. The PBOC recently said it was extending the yuan trade settlement scheme to all overseas nations and regions.
The Chinese central bank issues mid-point data through the Shanghai-based interbank market, the China Foreign Exchange Trade System (CFETS), on the market's website, www.chinamoney.com.cn.
The yuan may rise or fall 0.5 percent against the dollar from its mid-point each day. (Reporting by Lu Jianxin and Edmund Klamann)