China’s Yuan weakens against a basket of currencies last week
China’s Yuan weakened against a basket of currencies last week, according to the China Foreign Exchange Trade System (CFETS).
The CFETS Yuan exchange rate composite index, which measures the yuan’s strength relative to a basket of currencies, lost 0.57 points to 97.62 on Friday, according to the CFETS.
The index compares the Yuan with the value of 24 currencies, including the U.S. dollar, euro and Japanese yen.
Last week also saw an index that measures the Yuan against the Bank for International Settlements currency basket down 0.59 points to 101.68.
The index measuring the Yuan against the Special Drawing Rights basket edged down 0.56 points to 96.44.