The Chinese yuan has recovered from its lowest point after intervention by the country's central bank.
Singapore-based foreign exchange strategist Christopher Wong said intervention by the People's Bank of China "underscores policymakers' resolve to keep the yuan depreciation pressure in check."
But "it remains early to tell if this is really a turnaround due to the effects of economic support measures," Wong said.
Over the weekend it was reported that Chin and Russia were advancing in the process of dedollarization, with 80 per cent of bilateral trade payments now settled in their own national currencies.