(Yicai Global) Dec. 10 -- The People's Bank of China set the yuan's central parity rate against the US dollar at 7.04 this morning, 5 bips firmer for the redback from yesterday.

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 the figure.

 Editor: Emmi Laine