(Yicai Global) June 4 -- The China Foreign Exchange Trade System set the yuan parity rate against the US dollar stronger for the second day in a row today.
 

It set the redback against the US dollar at 6.8822 today, 74 basis points stronger than yesterday's rate. The pair traded at 6.9097 at the official closing of the onshore market yesterday.
 

The system fixes the benchmark parity rate on the morning of each business day. Spot rates may fluctuate 2 percent above or below that figure.
 

The CFETS is the interbank trading and foreign exchange division under China's central bank the People's Bank of China.

Editor: Ben Armour