The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 80 pips to 6.791 against the U.S. dollar Wednesday, 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 6.7910 against USD Wednesday
Chinese yuan strengthens to 6.7910 against USD Wednesday
The U.S. dollar fell in late trading on Tuesday.
The dollar index, which measures the greenback against six major peers, dropped 0.31 percent to 100.919 at 15:00. (1900 GMT).
In late New York trading, the euro climbed to 1.1423 dollars from 1.1387 dollars in the previous session, and the British pound was up to 1.3382 dollars from 1.3360 dollars in the previous session.
The U.S. dollar bought 162.20 Japanese yen, lower than 162.36 Japanese yen of the previous session. The U.S. dollar was down to 0.8092 Swiss francs from 0.8141 Swiss francs, and it dropped to 1.4067 Canadian dollars from 1.4151 Canadian dollars. The U.S. dollar declined to 9.6586 Swedish kronor from 9.7079 Swedish kronor.
U.S. dollar ticks down
