(Yicai Global) March 19 -- The People's Bank of China strengthened the yuan by 26 basis points against the dollar this morning, fixing the central parity rate at 6.7062 to appreciate the redback for the second day in a row.

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, set the rate 61 points lower than yesterday's market-based closing price of 6.7123. A lower rate means a stronger yuan.

The CFETS sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below the figure.

Editor: James Boynton