Yuan hits new record high at 6.1330 against USD

The Chinese currency Renminbi, or yuan,strengthened against the U.S. dollar on Wednesday, with its central parity rate rising 65 basis points to reach 6.1330 per U.S. dollar, according to the China Foreign Exchange Trading System.

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1 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.