Chinese yuan strengthened against a basket of currencies in August, according to the China Foreign Exchange Trade System (CFETS). At the end of last month, the CFETS yuan exchange rate composite index, which measures the yuan’s strength relative to a basket of currencies, edged up 0.34 percent from the end of July to 97.14, according to the system.
The index compares the yuan with the value of 24 currencies, including the U.S. dollar, euro and Japanese yen. Last month, the index measuring the yuan against the Bank for International Settlements currency basket rose 0.42 percent month on month to 101.55. The index measuring the yuan against the Special Drawing Rights basket dipped 0.4 percent from the previous month to 92.23.—Xinhua
