(Yicai Global) April 23 - The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank, set the yuan’s central parity rate against the dollar at 7.0887 this morning, strengthening the redback by 16 basis points from yesterday.

CFETS 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: James Boynton