(Yicai   Global) Jan. 8 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank, fixed the yuan's central parity rate against the dollar at its strongest in five months this morning.

The institute set the rate at 6.9450, making the redback 240 bips stronger than yesterday.

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