(Yicai Global) Feb. 19 -- The People's Bank of China weakened the yuan by 186 basis points against the US dollar this morning to 7.0012 in the redback's biggest depreciation since Feb. 4 and the lowest Central Parity Rate since Dec. 25.

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