The central parity rate of the yuan, China's currency Renminbi (RMB), rose 47 basis points Tuesday to 6.7051 per U.S. dollar from 6.7098 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.