The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 29 pips to 6.7899 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 6.7899 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 to 0.12 percent to 101.417 at 15:00. (1900 GMT).
In late New York trading, the euro rose to 1.1387 U.S. dollars from 1.1368 dollars in the previous session, and the British pound was up to 1.3289 dollars from 1.3288 dollars in the previous session.
The U.S. dollar bought 163.86 Japanese yen, higher than 163.78 Japanese yen of the previous session. The U.S. dollar was little changed against the Swiss franc at 0.8190 franc, and it decreased to 1.4105 Canadian dollars from 1.4125 Canadian dollars. The U.S. dollar diminished to 9.6954 Swedish kronor from 9.7285 Swedish kronor.
U.S. dollar ticks down
