Chinese yuan strengthens to 6.7889 against USD Wednesday

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 28 pips to 6.7889 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 6.7889 against USD Wednesday

International gold and silver prices closed higher on Tuesday.

On the New York Mercantile Exchange, gold futures for December delivery rose 1.52 percent to settle at 4,152.60 U.S. dollars per ounce, while silver futures for September delivery gained 4.13 percent to close at 60.245 dollars per ounce.

Gold, silver futures rise on Tuesday