(Yicai Global) March 24 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank, set the yuan parity rate against US dollar at 7.0999, 59 basis points weaker for the redback than yesterday.

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

Editor: Ben Armour