Chinese yuan weakens last week against 24 currencies

Beijing [China], May 30 : China's yuan weakened against a basket of 24 currencies last week, according to the China Foreign Exchange Trade System (CFETS). The CFETS yuan exchange rate composite index, which measures the yuan's strength relative to a basket of currencies, edged down 0.34 points from the previous week to 100.07, according to the CFETS. The index compares the yuan with the value of 24 currencies, including the U.S. dollar, euro and Japanese yen, reported Xinhua News Agency. Last week also saw an index that measures the yuan against the Bank for International Settlements currency basket down 0.54 points from the previous week to 104.73. The index measuring the yuan against the Special Drawing Rights basket fell 0.52 points week on week to 98.22.

( With inputs from ANI )

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