The central parity rate of the yuan, China's currency Renminbi (RMB), rose to a new high Tuesday, according to the data released by the China Foreign Exchange Trading System.

The yuan's central parity strengthened 131 basis points, or 0.19 percent, to 6.7378 per U.S. dollar Tuesday from 6.7509 per U.S. dollar Monday, according to the data released by the China Foreign Exchange Trading System.

China's central bank announced on June 19 this year that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.