Chinese yuan weakens in May

BEIJING, June 6 (Xinhua) -- China's yuan weakened against a basket of currencies in May, according to the China Foreign Exchange Trade System (CFETS).

File photo: CGTN

At the end of May, the CFETS yuan exchange rate composite index, which measures the yuan's strength relative to a basket of currencies, edged down 1.07 percent from the end of April to 98.46, according to the CFETS.

The index compares the yuan with the value of 24 currencies, including the U.S. dollar, euro, and Japanese yen.

Last month, the index measuring the yuan against the Bank for International Settlements currency basket dropped 0.98 percent month on month to 102.87.

The index measuring the yuan against the Special Drawing Rights basket went down 0.92 percent from the previous month to 94.43.