(Yicai Global) April 28 -- China's central bank set the yuan’s central parity rate against the dollar at 7.0710 this morning, weakening the redback by 7 basis points from yesterday.

The Chinese Foreign Exchange Trade System, the interbank trading and foreign exchange division under China’s central bank, fixes the benchmark parity rate on the morning of each business day. Spot rates may deviate 2 percent above or below the figure during that day.

Editor: Emmi Laine