(Yicai Global) March 14 -- The People's Bank of China strengthened the yuan's central parity rate against the dollar by 105 basis points this morning to 6.7009.

The China Foreign Exchange Trade System, the interbank trading and forex division of the central bank, sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below the figure.

The onshore yuan-dollar spot rate opened 35 bips lower than yesterday's close at 6.7036, indicating a stronger redback. The offshore yuan, which is not restricted by the central parity rate, started the day at 6.7020.

Editor: William Clegg