(Yicai Global) April 3 -- The People's Bank of China weakened the yuan by 33 basis points against the dollar this morning, fixing the central parity rate at 6.7194, ending the strengthening of the redback over the last two days.

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, set the rate 19 points lower than yesterday's market-based closing price of 6.7213. A lower rate means a stronger yuan.

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

Editor: William Clegg