(Yicai Global) Sept. 16 – The People's Bank of China lowered the yuan's central parity rate by 189 basis points this morning, strengthening the yuan to 7.0657 a dollar.

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, sets the benchmark parity rate on the morning of each business day. Spot rates may swing 2 percent above or below this figure.