(Yicai Global) Nov. 04 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank, lowered the yuan's central parity rate against the US dollar by 55 basis points this morning, weakening the redback to 7.0382 a dollar.

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

Editor: Ben Armour