The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 96 pips to 6.8961 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 strengthens to 6.8961 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 0.65 percent to 99.705 at 15:00 (1900 GMT).
In late New York trading, the euro advanced to 1.1521 dollars from 1.1440 dollars in the previous session, and the British pound added to 1.3333 dollars from 1.3245 dollars in the previous session.
The U.S. dollar bought 158.95 Japanese yen, lower than 159.61 Japanese yen in the previous session. The U.S. dollar was down to 0.7867 Swiss francs from 0.7899 Swiss francs, and it decreased to 1.3670 Canadian dollars from 1.3734 Canadian dollars. The U.S. dollar slipped to 9.3263 Swedish kronor from 9.4467 Swedish kronor.
U.S. dollar ticks down
