(Yicai Global) March 6 -- The People's Bank of China beefed up the yuan by 66 basis points against the dollar this morning, fixing the central parity rate at 6.9337.

The onshore yuan market closed at 6.9425 to the greenback yesterday, depreciating 94 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 fluctuate 2 percent above or below its figure.

Editor: Ben Armour