(Yicai Global)  Dec. 6 -- China's central bank, the People's Bank of China (PBOC), cut the yuan-dollar central parity rate for the eighth straight trading day today, the longest period of sustained reduction in the past year.

The China Foreign Exchange Trade System (CFETS), PBOC's interbank trading and foreign exchange division, set the yuan central parity rate at 6.6163 against the dollar, 50 basis points less than yesterday's 6.6113.

On Nov. 24, before the reduction began, the rate was 6.5810. It has lost 353 basis points since. 

The onshore yuan-dollar spot exchange rate officially closed at 6.6131 yesterday and was at 6.6188 when night trading closed.

The offshore spot exchange rate was 6.6227 as of 9:31 am today.