The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 64 pips to 6.8593 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 6.8593 against USD Tuesday
The U.S. dollar weakened in late trading on Monday.
The dollar index, which measures the greenback against six major peers, dropped to 0.28 percent to 98.370 at 3 p.m. (1900 GMT).
In late New York trading, the euro increased to 1.1728 dollars from 1.1725 dollars in the previous session, and the British pound was up to 1.3477 dollars from 1.3463 dollars in the previous session.
The U.S. dollar bought 159.50 Japanese yen, higher than 159.28 Japanese yen of the previous session. The U.S. dollar declined to 0.7859 Swiss francs from 0.7893 Swiss francs, and it lost to 1.3800 Canadian dollars from 1.3830 Canadian dollars. The U.S. dollar dropped to 9.2013 Swedish kronor from 9.2781 Swedish kronor.
U.S. dollar ticks down
