(Yicai Global) Jan. 23 -- The People's Bank of China softened the yuan by 23 basis points against the US dollar this morning, fixing the central parity rate at 6.8876.

The onshore yuan market closed at 6.9012 yesterday, appreciating 53 basis points during the day.

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below the figure.

Editor: Emmi Laine