(Yicai Global) June 2 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank the People’s Bank of China, set the yuan parity rate against the US dollar at 7.1167, 148 basis points stronger for the redback than yesterday.

CFETS fixes the benchmark parity rate on the morning of each business day. Spot rates may swing 2 percent above or below its figure during that day.

Editor: Ben Armour