China yuan strengthens to 6.1523 against USD -- July 1

The value of the Chinese currency renminbi, or the yuan, strengthened 5 basis points to 6.1523 against the US dollar in its central parity 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 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.