(Yicai Global) Sept.16 -- The People's Bank of China strengthened the yuan by 397 bips against the US dollar this morning, fixing the central parity rate at 6.7825, its strongest since May 10 last year.

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 deviate 2 percent above or below its figure.

Editor: Ben Armour