Yuan hits new record high at 6.0930 against USD Tuesday

The Chinese currency Renminbi, or the yuan, strengthened 20 basis points to 6.0930 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading System.

The yuan's rise was partly attributed to poor U.S. non-farm payroll data. The world's biggest economy added only 74,000 non-farm jobs in December, far less than what the most conservative analysts forecast.

The People's Bank of China, or the central bank, set the dollar-yuan central parity rate at 6.095 on Monday.

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.