(Yicai Global) July 20 -- The People's Bank of China strengthened the yuan against the US dollar this morning, fixing the central parity rate at 6.9928, 115 basis points firmer for the redback from the previous trading day.

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 swing 2 percent above or below its figure.

Editor: Emmi Laine