In the Asian session on Tuesday, the Chinese yuan trimmed its early losses against the U.S. dollar. The yuan that fell to 6-day low of 6.3356 against the greenback recovered and is now quoted at 6.3210. The yuan traded at 6.3182 against the greenback at Monday's close.
The number of Chinese cities reporting a fall in house prices increased in August from a month earlier, the latest figures released by the National Bureau of Statistics showed.
House prices fell in 19 out of the 70 cities surveyed in August on a monthly basis. This compares to just 9 cities that recorded price falls in July.
The People's Bank of China set today's central parity rate for the yuan at 6.3353 per dollar, compared to Monday's daily reference rate of 6.3295. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1 % from the level.
by RTT Staff Writer
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