China's yuan up 40 basis points to new high Tuesday

The Chinese currency, or the yuan, on Tuesday strengthened 40 basis points to a new high of 6.5592 per U.S. dollar from Monday.


On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.


The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.
(Source:http://news.xinhuanet.com)