(Yicai Global) April 29 -- China's central bank set the yuan’s central parity rate against the US dollar at 7.0704 this morning, strengthening the redback by 6 basis points from yesterday.

The Chinese Foreign Exchange Trade System, the interbank trading and foreign exchange division under China’s central bank, 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: Emmi Laine