(Yicai Global) Nov. 5 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank, raised the yuan's central parity rate against the US dollar by 3 basis points this morning, weakening the redback to 7.03858 a dollar.

CFETS fixes the benchmark parity rate on the morning of each business day. Spot rates may swing 2 percent above or below it.