Chinese Yuan Strengthens Last Week

Chinese yuan strengthened against a basket of currencies last week, according to the China Foreign Exchange Trade System (CFETS)

BEIJING, (UrduPoint / Pakistan Point News - 25th Mar, 2024) Chinese yuan strengthened 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, gained 0.43 points from the previous week, reaching 99.3, according to the CFETS.

The index compares the yuan's value with that of 24 currencies, including the U.S. dollar, the euro, and the Japanese yen.

Last week also saw an index measuring the yuan against the Bank for International Settlements currency basket went up 0.55 points from the previous week to 104.58.

The index measuring the yuan against the Special Drawing Rights basket edged up 0.25 points week on week to 94.09.