China's yuan hits record high of 6.4690 against USD Tuesday

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The Chinese currency Renminbi, or the yuan,strengthened by 6 basis points to 6.4690 per U.S. dollar on Tuesday, according to the China Foreign Exchange Trading system.

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 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 before the opening of the market each business day.