The central parity rate of the Chinese currency renminbi, or the yuan, weakened 36 pips to 6.9124 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.
Chinese yuan weakens to 6.9124 against USD Wednesday
Chinese yuan weakens to 6.9124 against USD Wednesday
The U.S. dollar strengthened in late trading on Tuesday.
The dollar index, which measures the greenback against six major peers, went up 0.67 percent to 99.046 at 15:00 (2000 GMT).
In late New York trading, the euro dropped to 1.1603 dollars from 1.1707 dollars in the previous session, and the British pound fell to 1.3334 dollars from 1.3422 dollars in the previous session.
The U.S. dollar bought 157.76 Japanese yen, higher than 157.23 Japanese yen in the previous session. The U.S. dollar increased to 0.7822 Swiss francs from 0.7784 Swiss francs, and it lost to 1.3667 Canadian dollars from 1.3673 Canadian dollars.
The U.S. dollar was up to 9.2882 Swedish Kronor from 9.1347 Swedish Kronor.
US dollar ticks up
US dollar ticks up
