1st LD-Writethru: Chinese yuan strengthens to 6.7562 against USD Wednesday

The central parity rate of the Chinese currency, the renminbi or the yuan, strengthened sharply against the U.S. dollar on Wednesday as new worries weighed on the greenback.

The yuan strengthened by 172 basis points to 6.7562 against the dollar on Wednesday, according to the China Foreign Exchange Trade System.

The dollar has slumped against several major currencies, as a new poll that put Republican presidential nominee Donald Trump slightly ahead of his Democratic rival in the U.S. presidential race injected fresh anxiety into global markets.

In China's spot foreign exchange 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 dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Exchange rates can be jointly decided by a slew of factors, including a country's economic fundamentals, foreign exchange reserves and events affecting market sentiment, experts said.

There is no basis for persistent yuan depreciation, as China has been witnessing steady economic growth, progress in economic restructuring and a stable financial market, said Pan Gongsheng, head of the State Administration of Foreign Exchange (SAFE), earlier this week. Endi