Renminbi strengthens last week: CFETS

China’s yuan strengthened against a basket of currencies last week, according to the China Foreign Exchange Trade System. The CFETS yuan exchange rate composite index, which measures the yuan’s strength relative to a basket of currencies, gained 0.07 points to 99.09 on Monday, according to the CFETS. The index compares the yuan with the value of 24 currencies, including the US dollar, euro and Japanese yen. Last week also saw an index that measures the yuan against the Bank for International

Settlements currency basket up 0.1 points to 103.03.