(Yicai Global) Nov. 6 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank, lowered the yuan's central parity rate against the US dollar by 305 basis points this morning, strengthening the redback to 7.0080 a dollar, its best since Aug. 8.

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