(Yicai Global) May 23 -- China's central bank weakened the yuan's central parity rate against the dollar by 2 basis points for the third straight day today, to 6.8994. The rate placed the yuan 46 bips stronger than yesterday's market-based closing price.

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the 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.

Editor: James Boynton