(Yicai Global) June 10 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank, set the yuan’s parity rate against the dollar at 7.0865 this morning, weakening the redback by 257 basis points from yesterday.

CFETS fixes the benchmark parity rate on the morning of each business day. Spot rates may deviate 2 percent above or below its figure during that day.

Editor: James Boynton