Chinese yuan weakens to 6.799 against USD Tuesday

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 18 pips to 6.799 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 6.799 against USD Tuesday

European stocks closed higher across the board on Monday.

The United Kingdom's FTSE 100 index rose 0.01 percent to close at 10,498.29 points. France's CAC 40 index gained 0.31 percent to finish at 8,364.65 points. Germany's DAX index advanced 0.19 percent to end the session at 25,114.25 points.

European stocks close higher on Monday