The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 27 pips to 6.7906 against the U.S. dollar Thursday, 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 6.7906 against USD Thursday
U.S. President Donald Trump on Wednesday warned that the federal government could face a shutdown in September as partisan differences over federal spending persist, while Congress moved ahead with a short-term funding measure to keep government operations running beyond the end of the fiscal year.
Speaking in the state of Georgia, Trump said the federal government could shut down in September because Republicans and Democrats remain divided over spending priorities.
On Tuesday, the Republican-controlled U.S. House of Representatives passed a short-term spending bill that would fund federal government agencies through Dec. 4, aiming to prevent a government shutdown ahead of the November midterm elections.
The temporary funding measure, also known as a continuing resolution (CR), will now be sent to the Senate for consideration.
Republican leaders in the Senate are currently negotiating with Democrats and are also weighing a separate short-term funding proposal.
If Congress fails to approve appropriations legislation in time, funding for most federal agencies and programs will expire at midnight on Sept. 30, the end of the current fiscal year, triggering a partial government shutdown.
Trump warns of potential US government shutdown in Sept
