China's yuan advances to new high

BEIJING - The Chinese currency, or the yuan, on Tuesday strengthened 40 basis points to a new high of 6.5592 per US 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 US dollar is based on a weighted average of prices before the opening of the market each business day.