Chinese Yuan Strengthens Slightly Last Week
Mohammad Ali (@ChaudhryMAli88) Published April 22, 2019 | 05:36 PM
China's yuan strengthened slightly against a basket of currencies last week, according to the China Foreign Exchange Trade System (CFETS) inde
BEIJING, (UrduPoint / Pakistan Point News - 22nd Apr, 2019 ) :China's Yuan strengthened slightly against a basket of currencies last week, according to the China Foreign Exchange Trade System (CFETS) index.
The CFETS yuan exchange rate composite index, known as the CFETS RMB Index, which measures the yuan's strength relative to a basket of currencies, came in at 95.51 on April 19, the last trading day of last week, an increase of 0.
31 points from a week earlier, according to CFETS.
The index compares the yuan to the value of 24 currencies, including the U.S. Dollar, euro and Japanese Yen, which was expanded from a basket of 13 currencies in 2016.
Last week also saw an index that measures the yuan against the Bank for International Settlements Currency basket up 0.37 points to 99.23.
The index measuring the yuan against the Special Drawing Rights basket went up 0.4 points to 95.77.
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