Chinese yuan weakens to 7.0773 against USD Tuesday

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 9 pips to 7.0773 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Russia's military said on Tuesday that its air defense forces intercepted and destroyed 280 Ukrainian unmanned aerial vehicles (UAVs) and 13 rockets of U.S.-made HIMARS multiple launch rocket system over the past 24 hours, while Ukraine's commander-in-chief admitted that the Ukrainian forces are facing the most serious challenges since the conflict broke out.

Russian aerospace forces also shot down a Ukrainian air force Su-27 aircraft in the past day, the Russian Defense Ministry said, adding that its troops attacked Ukrainian targets in 157 locations including the Ukrainian army's energy infrastructure facilities and sites for the storage of long-range UAVs.

Since the start of conflict, Russia has destroyed 669 Ukrainian combat aircraft, 283 helicopters and 101,411 drones, according to the ministry.

In total, it said, 639 surface-to-air missile systems, 26,467 tanks and other armored combat vehicles, 1,627 multiple rocket launchers, 31,815 field artillery pieces and mortars, and 48,692 special military motor vehicles have been destroyed.

Also on Tuesday, the General Staff of the Armed Forces of Ukraine said that Ukrainian troops engaged in 139 combats with Russian soldiers on the front lines over the past day. Ukrainian forces implemented offensives against Russia's artillery system, drone control points and other targets.

Commander-in-Chief of the Armed Forces of Ukraine Oleksandr Syrskyi said on Tuesday that the Ukrainian forces are facing "some of the most serious challenges" since the start of the war as Russia is intensifying offensive actions.