(Yicai Global) April 17 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank, set the yuan parity rate against the US dollar at 7.0718, 4 basis points weaker for the redback than yesterday.

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

Editor: Ben Armour