BEIJING, May 29 (Xinhua) — The Chinese yuan weakened towards a basket of currencies final week, in line with the China Foreign Exchange Trade System (CFETS).
The CFETS yuan alternate price composite index, which measures the yuan’s power relative to a basket of currencies, fell 0.04 factors from the earlier week to 98.78, in line with the CFETS.
The index compares the yuan with the values of 24 currencies, together with the U.S. dollar, the euro and the Japanese yen.
Last week additionally noticed an index that measures the yuan towards the Bank for International Settlements forex basket edge down 0.13 factors from the earlier week to 103.13.
The index measuring the yuan towards the Special Drawing Rights basket fell 0.24 factors week on week to 94.61.