(Yicai Global) March 30 -- The China  Foreign Exchange Trade System, the interbank trading and foreign exchange  division under China's central bank, set the yuan's central parity rate against  the dollar at 7.0447 this morning, weakening the redback by 20 basis points from  March 27.   

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