(Yicai  Global) Feb. 12 -- The People's Bank of China strengthens the yuan by  179 basis points against the US dollar this morning, fixing the central  parity rate at 6.9718.

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.