(Yicai Global) Feb. 21 - The People's Bank of China softened the yuan by 184 basis points against the US dollar this morning to 7.0210 to the lowest rate for the redback since Dec.12.

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below its figure.

Editor: Ben Armour