China's Trade-Weighted Yuan Basket Index Reaches New Peak

Monday, 19 February 2024, 01:43
The China Foreign Exchange Trade System (CFETS) yuan basket index, also known as the RMB Index, has surged to its highest level since October 30, 2023. This trade-weighted index tracks the value of the Chinese yuan against a basket of foreign currencies, providing a comprehensive insight into its performance and relative value in international trade and financial activities.

Highlights:

China's trade-weighted CFETS yuan basket index rises to its highest level since October 30, 2023.

About the CFETS Yuan Basket Index:

  • basket includes the currencies of China's major trading partners
  • CFETS yuan basket index is used to provide a reference for measuring yuan's performance
  • composition of the basket is periodically reviewed and adjusted by the People's Bank of China (PBOC)
  • index reflects changes in yuan's value based on international trade and financial flows

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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