Chinese yuan strengthens in August

September 7, 2023

PUBLISHED : 7 Sep 2023 at 10:20

File photo shows a resident withdraws 100-yuan banknotes from ATM machine at the Beijing Branch of the Bank of Communication in Beijing, capital of China. (Xinhua/Li Xin)

BEIJING: Chinese yuan strengthened against a basket of currencies in August, 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 up 0.34…