(Yicai Global) Oct. 16 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank the People's Bank of China, pegged the yuan central parity rate 38 basis points weaker against the dollar at 7.0746 basis points this morning.

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

Editor: Ben Armour