The central parity rate of the Chinese currency renminbi, or the yuan, weakened 15 pips to 6.9858 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.
Chinese yuan weakens to 6.9858 against USD Tuesday
The U.S. dollar weakened in late trading on Monday.
The dollar index, which measures the greenback against six major peers, fell 0.57 percent to 97.035 at 15:00. (2000 GMT).
In late New York trading, the euro advanced to 1.1875 dollars from 1.1789 dollars in the previous session, and the British pound increased to 1.3679 dollars from 1.3605 dollars in the previous session.
The U.S. dollar bought 154.18 Japanese yen, lower than 156.14 Japanese yen in the previous session. The U.S. dollar was down to 0.7768 Swiss francs from 0.7858 Swiss francs, and it was up to 1.372 Canadian dollars from 1.3718 Canadian dollars. The U.S. dollar slipped to 8.9368 Swedish kronor from 8.9783 Swedish kronor.
U.S. dollar ticks down
