The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 98 pips to 6.8943 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 6.8943 against USD Tuesday
Chinese yuan strengthens to 6.8943 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 0.69 percent to 98.958 at 15:00 (1900 GMT).
In late New York trading, the euro was up to 1.1607 dollars from 1.1559 dollars in the previous session, and the British pound climbed to 1.3425 dollars from 1.3337 dollars in the previous session.
The U.S. dollar bought 158.45 Japanese yen, lower than 159.22 Japanese yen in the previous session. The U.S. dollar slipped to 0.7865 Swiss francs from 0.7885 Swiss francs, and it rose to 1.3719 Canadian dollars from 1.3707 Canadian dollars. The U.S. dollar was down to 9.3095 Swedish kronor from 9.3594 Swedish kronor.
U.S. dollar ticks down
