(Yicai Global) March 13 -- The People's Bank of China strengthened the yuan's central parity rate against the dollar by 14 basis points this morning to 6.7114.

The China Foreign Exchange Trade System, the interbank trading and forex division of the central bank, sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below the figure.

The onshore yuan-dollar spot rate opened at 6.7072, 13 bips higher than yesterday's close. A lower rate means a stronger redback. The offshore yuan, which is not restricted by the central parity rate, started the day at 6.7075.

Editor：James Boynton