Chinese yuan strengthens to 6.9755 against USD Wednesday

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 103 pips to 6.9755 against the U.S. dollar Wednesday, 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 said on Tuesday that it had taken control of two more settlements from Ukraine, while Ukraine, on the same day, reported repelling Russian offensives on multiple fronts.

Russia's Defense Ministry said in its latest report that over the past 24 hours, its forces captured the key logistics hub of Kupiansk-Vuzlovyi in Ukraine's northeastern Kharkiv region, and the village of Novoyakovlivka in southeast of the city of Zaporizhzhia.

The Russian forces also carried out strikes on 154 targets using tactical aircraft, attack drones, missile forces and artillery, and these targets included Ukraine's energy infrastructure as well as storage and launch sites for long-range unmanned aerial vehicles, the ministry said.

Meanwhile, the Ukrainian military said in a situation report that as of 08:00 Tuesday, it had carried out strikes on Russian drone control stations, multiple rocket launch systems and command posts over the past day.

The Ukrainian forces repelled Russian attacks in several directions, including Kupiansk and Lyman, the report said.

Furthermore, Ukraine's local authorities and the country's energy ministry said on Tuesday that the Russian forces launched air strikes on Ukraine's energy infrastructure from late Monday night to early Tuesday morning.

The attacks left dozens of people injured in Odesa city and Mykolaiv Oblast, and triggered power outages in multiple areas, the Ukrainian side said.