(Yicai Global) March 2 -- China's central bank the People's Bank of China bolstered the yuan by 255 basis points against the dollar this morning, fixing the central parity rate at 6.9811.

The onshore yuan market closed at 6.9896 to a dollar on the last trading day, appreciating 265 basis points.

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