Yuan remains flat against US dollar

The central bank has set a flat mid-point of the yuan's exchange rate against the US dollar.

Monday's mid-point was set at 6.8261. That's marginally down from the previous day. Market observers say the yuan may edge up against the US dollar within a small range this week. But it will not quicken its pace of acceleration on concerns over exports. China's currency rose slightly against the greenback last week and ended at 6.8262 last Friday.

The central bank has set a flat mid-point of the yuan's exchange rate against  the US dollar.

Premier Wen Jiabao dismissed external calls for the yuan's appreciation on Sunday at a press conference in Beijing. He stressed that the yuan is not undervalued and reiterated China will stick to implementing a managed, market-based and floating exchange rate regime.