BEIJING, Dec. 25 (Xinhua) — Chinese yuan weakened against a basket of 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, lost 0.14 points from the previous week to 97.88, according to the CFETS.
The index compares the yuan’s value with the value of 24 currencies, including the U.S. dollar, the euro, and the Japanese yen.
Last week also saw an index measuring the yuan against the Bank for International Settlements currency basket edge down 0.14 points from the previous week to 102.81.
The index measuring the yuan against the Special Drawing Rights basket went down 0.04 points week on week to 93.39.
China’s benchmark interbank gold prices higher Monday
BEIJING, Dec. 25 (Xinhua) — China’s benchmark prices for spot interbank gold transactions were higher Monday, according to the China Foreign Exchange Trade System.
The benchmark price for gold that is 99.95 percent pure or above stood at 477.35 yuan (about 67 U.S. dollars) per gram, up 1.24 yuan from the previous trading day, while the price for gold that is 99.99 percent pure or above rose 3.12 yuan to 478.66 yuan.
Spot transaction prices on the interbank price inquiry market are allowed to rise or fall within 15 percent from the benchmark prices each trading day.
The interbank gold price inquiry business was introduced in 2012 to enhance market liquidity and enrich trading models.