(Yicai Global) Dec. 20 -- The People's Bank of China raised the yuan-dollar central parity rate by 67 basis points this morning, lowering the Chinese currency's value against the greenback.

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, set the rate at 6.8936 against the dollar, 18 basis points stronger than the closing price of 6.8954 yesterday.

The CFETS sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below the figure.