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Chinese yuan strengthens in August

BEIJING, Sept. 7 (Xinhua) — Chinese yuan strengthened towards a basket of currencies in August, in accordance with the China Foreign Exchange Trade System (CFETS).

At the tip of final month, the CFETS yuan alternate charge composite index, which measures the yuan’s energy relative to a basket of currencies, edged up 0.34 % from the tip of July to 97.14, in accordance with the system.

The index compares the yuan with the worth of 24 currencies, together with the U.S. dollar, euro and Japanese yen.

Last month, the index measuring the yuan towards the Bank for International Settlements foreign money basket rose 0.42 % month on month to 101.55.

The index measuring the yuan towards the Special Drawing Rights basket dipped 0.4 % from the earlier month to 92.23.