(Yicai Global) Jan. 11 -- The People's Bank of China set the central parity rate of its currency against the US dollar at 6.4764 this morning, 56 basis points weaker for the redback from the previous trading day.

The yuan was appreciating last week as the onshore rate touched its firmest versus the US dollar in the past 30 months on Jan. 5. The PBOC proceeded by fixing the midpoint at its strongest level since June 2018 on Jan. 6.

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