(Yicai Global) Dec. 24 -- The People's Bank of China stiffened the yuan by 197 basis points against the US dollar this morning, fixing the central parity rate at 6.5361.

The onshore yuan closed at 6.5378 yesterday, appreciating 102 basis points during the day.

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 swing 2 percent above or below its figure.

Editor: Ben Armour