(Yicai Global) April 14 -- The People's Bank of China softened the yuan by 106 basis points against the US dollar this morning, fixing the central parity rate at 7.0406,down from yesterday's 7.0300.

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 its figure.

Editor: Ben Armour