(Yicai Global) July 14 -- The People's Bank of China softened the yuan by 31 basis points against the US dollar this morning from the previous trading day, fixing the central parity rate at 6.9996.

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: Ben Armour