(Yicai Global) Feb. 14 -- The central parity rate of the yuan against the dollar was set 69 basis points weaker than yesterday's, as high-level officials from the world's big two economies restart talks to resolve their remaining trade differences.
 

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division of China's central bank the People's Bank of China, set the yuan central parity rate at 6.7744 against the dollar, as against yesterday's official close of 6.7596.
 

The redback rebounded against its green opposite number from its post-holiday low in  onshore trading yesterday, going as high as 6.7499 intraday, but could not sustain this upward momentum. The offshore rate had ebbed to 6.7836 as New York closed, 100 basis points down from the day before. 
 

The Chinese currency has leeway to rise or fall by 2 percent from the central parity rate each day in China's spot foreign exchange market.
 

The yuan's central parity rate against the buck rests on a weighted average of price offers by market makers before the opening of interbank trading.
 

Investors have pinned their hopes on this new round of high-level economic and trade consultations China and the US embarked on this morning in Beijing and that will conclude tomorrow to ease the uncertainties that have roiled global markets of late.

Editor: Ben Armour