Chinese language yuan strengthens barely final week

BEIJING, March 11 (Xinhua) — 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 95.42 at the end of last week. This marked an increase of 0.28 points from a week ago, the CFETS said.

The index compares the yuan to the values 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 up 0.37 points to 99.13 and strengthened against the Special Drawing Rights basket by 0.25 points to 95.53, according to the CFETS.