Rights Basket: Percent Month

rights basket: The index that measures the yuan against the Bank for International Settlements currency basket strengthened by 0.34 percent month on month to 95.07, while the index that measures against the Special Drawing Rights basket strengthened by 0.49 percent from a month earlier to 95.52, according to Xinhua China. The figures showed that the yuan is basically stable against a basket of currencies, though expectations for an interest rate hike in the United States and fears over Britain exit from the European Union have led to a stronger dollar, the CFETS said. The yuan exchange rate composite index, which measures the yuan strength relative to a basket of 13 currencies, including the U.S. dollar, euro and Japanese yen, came in at 94.22 at the end of October, up from 94.07 a month earlier, the CFETS said in a statement. As the dollar index, which measures the dollar against six major currencies, rose to its highest level in eight months in October, the yuan weakened against the dollar "in order to maintain stability against a basket of currencies," it noted. The market rate against the dollar weakened by 1.49 percent in October, according to the CFETS. However, compared to other emerging economies and developed economies, China currency depreciation was relatively small, it said. The central parity rate of the Chinese currency against the dollar weakened to 6.7858 last week, a six-year low, before gaining a bit this week, losing 1.28 percent in value for October. (news.financializer.com). As reported in the news.