(Yicai Global) Dec. 24 -- The People's Bank of China has lowered the yuan-dollar central parity rate by 181 basis points this morning, which has softened the redback against the US dollar. 

The China Foreign Exchange Trade System, which is an interbank trading and forex division under the central bank, set the yuan to fetch USD6.9006. This is 64 basis points stronger than the closing price of 6.9070 yesterday.

The CFETS sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below the figure.

Editor: Emmi Laine