The value of China's currency Renminbi (RMB) strengthened against the U.S. dollar Tuesday as the central parity rate of the yuan was set at 6.7799 per U.S. dollar, compared with the 6.7838 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.