Dollar/yuan rate down 1 pct, hits lower limit of daily trading band


SHANGHAI, Oct 25 (Reuters) - China's yuan hit the strong-side limit of its daily trading band on Thursday morning.

Spot yuan hit 6.2417 versus the dollar at around 1:40 p.m. (0540 GMT), putting the dollar/yuan rate one percent below the central bank's midpoint of 6.3047.

The People's Bank of China (PBOC) allows the exchange rate to rise or fall 1 percent from the mid-point set by the central bank each day.

(Reporting by Gabriel Wildau; Editing by Jacqueline Wong)