(Yicai Global) Dec. 11 -- The People's Bank of China strengthened the yuan by 71 basis points to 6.5405 against the US dollar this morning after setting the central parity rate at the firmest point for the redback since June 2018 for three straight days early this week.

The yuan has lately been appreciating against the greenback as the onshore renminbi touched 6.5179 against the dollar on Dec. 9, the firmest in the past 29 months.

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 midpoint.

Editor: Emmi Laine