(Yicai Global) Dec. 23 -- The People's Bank of China weakened the yuan by 171 basis points against the dollar this morning, fixing the central parity rate at 6.5558.

The onshore yuan market closed at 6.5480 yesterday, appreciating 14 basis points during the session.

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

Editor: Ben Armour