China's yuan hit a new high against the US dollar for the third straight day on Friday. The latest central parity rate of the yuan is 6.6497 per US. dollar.

The yuan has gained in strength against the US. dollar and seen increased volatility in the trading days since the People's Bank of China, China's central bank, announced on June 19th it would increase the exchange rate flexibility.

Based on Friday's central parity, the Chinese currency has strengthened against the US dollar by about 2.65 percent from the rate a day before the PBOC's announcement.

The yuan has smashed new high records against the the US dollar 14 times in the past 6 weeks.