Chinese yuan weakens in October

BEIJING, Nov. 13 (Xinhua) — Chinese yuan weakened against a basket of currencies in October, 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 down 0.24 percent from the end of September to 99.31, according to the system.
The index compares the yuan with the value of 24 currencies, including U.S. dollar, euro and Japanese yen.
As of the end of October, the index measuring the yuan against the Bank for International Settlements currency basket dipped 0.08 percent from the end of September to 104.06.
The index measuring the yuan against the Special Drawing Rights basket dropped 0.28 percent from the previous month to 94.