(Yicai Global) Jan. 28 -- The yuan hit a near six-month high  against the dollar after the People's Bank of China pushed the redback's  central parity rate 469 basis points higher to 6.7472 this morning.

As of this morning, the onshore spot exchange rate  of the yuan against the dollar was 6.7483, compared with 6.7485 at the  close on Jan. 25, while the offshore spot exchange rate was 6.7487,  compared with 6.7535 at the close of previous trading day on the New  York market.

The China Foreign Exchange Trade System (CFETS),  the interbank trading and foreign exchange division under China's  central bank, sets the benchmark on the morning of each business day.  Spot rates may deviate 2 percent above or below the figure.