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Chinese Yuan Up Slightly Last Week

China's yuan strengthened slightly against a basket of currencies in the last trading week, according to a 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 92.38 at the end of last week. This marked an increase of 0.03 points from a week ago, the CFETS said.

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.

In the past week, an index that measures the yuan against the Bank for International Settlements currency basket went down 0.04 points to 95.97, and also weakened against the Special Drawing Rights basket by 0.43 points to 91.8, according to CFETS.

(www.chinaview.cn 2018-10-15)