(Yicai Global) April 3 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank, set the yuan's central parity rate against the dollar at 7.1104 this morning, softening the redback by 109 basis points to its weakest since March 6, 2008.

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

Editor: James Boynton