(Yicai Global) Oct. 14 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank the People's Bank of China, lowered the yuan's central parity rate against the dollar by 2 basis points this morning, thus strengthening the redback to 7.0725.
 

CFETS fixes the benchmark parity rate on the morning of each business day. Spot rates may swing 2 percent above or below its figure.

 The yuan rebounded strongly against the greenback last week, as China and the US made marked progress in multiple areas after holding new high-level economic and trade talks which ended on Oct. 11 in Washington.
The two sides also agreed to jointly strive toward an eventual agreement.

Editor: Ben Armour