(Yicai Global) Jan.7 -- The People's Bank of China raised the yuan-dollar central parity rate by 69 basis points this morning to 6.8517, strengthening 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 6.8517 against the dollar. The offshore yuan continued to pull higher against the dollar, rising nearly 200 points at 6.8494. Both the offshore and onshore redback are higher than the 6.85.

The US dollar index fell 0.07 percent to 96.2183 on Jan. 4, down 0.16 percent for the week and the decline has continued for three weeks in a row largely due to dovish remarks from Federal Reserve Chairman Jerome Powell. 

Editor: William Clegg