(Yicai Global) May 27 -- The People's Bank of China finished a two-day streak of softening the Chinese yuan against the US dollar to the lowest in twelve years this morning.

The PBOC set the central parity rate at 7.1092 today, 201 basis points stronger from yesterday.

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

Editor: Emmi Laine