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Xinhua Silk Road
Economy

Chinese yuan slightly weaker in November: index

December 04, 2017


Abstract : China's yuan has slightly weakened against a basket of currencies in November, according to an index released by the China Foreign Exchange Trade System (CFETS).

在“一带一路”建设中寻找人民币国际化突破口

 

BEIJING, Dec. 3 (Xinhua) -- China's yuan has slightly weakened against a basket of currencies in November, according to an index released by the China Foreign Exchange Trade System (CFETS).

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 94.37 at the end of November.

This marked a 0.56 percent decrease from a month earlier, the CFETS said.

The index currently 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 to cover more of China's trading partners.

In November, the index that measures the yuan against the Bank for International Settlements currency basket dropped 0.63 percent to 95.23, while against the Special Drawing Rights basket it weakened 0.28 percent to 95.19, according to the CFETS.

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Keyword: RMB China-yuan

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