(Yicai Global) April 4 -- The People's Bank of China strengthened the yuan by 139 basis points against the dollar this morning, fixing the central parity rate at 6.7055, after weakening the redback by 33 bips yesterday.
The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, set the rate 21 points lower than Friday's market-based closing price of 6.7076. A lower rate means a stronger yuan.
The CFETS sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below the figure.
Editor: William Clegg