(Yicai Global) Nov. 27 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the People's Bank of China, set the yuan's central parity rate against the US dollar at 7.0349 this morning, 5 bips weaker for the redback from yesterday.

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