(Yicai Global) Aug. 1 -- The People's Bank of China fixed the central parity rate between the Chinese yuan and the US dollar at  6.8938, which was 97 basis points weaker for the redback than yesterday morning. The rate was also 83 bips softer than yesterday's closing price.

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 the figure.

Editor: Emmi Laine