The central parity rate of the Chinese currency renminbi, or the yuan, weakened 21 pips to 6.8171 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 weakens to 6.8171 against USD Tuesday
Heavy rainfall is continuing to batter China, triggering flooding and emergency responses across multiple provinces in east, central and southwest China.
On Monday, torrential downpours — some reaching extreme levels — drenched parts of Guizhou, Hunan, Jiangxi, Anhui, Jiangsu, Zhejiang provinces and Shanghai. Southern Guizhou was hit especially hard, with record-breaking rainfall in some areas.
The flood peak of the Liujiang River hit Liuzhou City, south China's Guangxi Zhuang Autonomous Region, on Monday, with water levels 3.14 meters above the alert mark, flooding many roads and prompting emergency responses from many local departments.
By Tuesday morning, the water had receded to the warning level of 82.5 meters and is still falling.
Heavy rain has also caused significant flooding in Guangxi's Laibin City.
The flow at the Wuxuan hydrological station in Laibin reached 25,000 cubic meters per second at 17:30 on Monday, making it the first flood this year in the Xijiang River.
Heavy rain batters many parts of China, triggering flood, emergency responses
