(Yicai Global) May 13 -- The People's Bank of China set the Chinese yuan to the lowest level against the US dollar since January 23. 

The central bank fixed the central parity rate between the Chinese yuan and the US dollar 42 basis points higher to 6.7954, 246 bips stronger from yesterday's close. 

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

Editor: Emmi Laine