The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 75 pips to 6.8854 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 6.8854 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 0.24 percent to 99.981 at 15:00 (1900 GMT).
In late New York trading, the euro rose to 1.1549 dollars from 1.1515 dollars in the previous session, and the British pound advanced to 1.3241 dollars from 1.3192 dollars in the previous session.
The U.S. dollar bought 159.63 Japanese yen, lower than 159.65 Japanese yen in the previous session. The U.S. dollar decreased to 0.7977 Swiss francs from 0.8008 Swiss francs, and it dropped to 1.3914 Canadian dollars from 1.3944 Canadian dollars. The U.S. dollar slipped to 9.4355 Swedish kronor from 9.4828 Swedish kronor.
U.S. dollar ticks down
