The yuan exchange rate composite index, which measures the yuan's strength relative to a basket of currencies including the dollar, euro and Japanese yen, strengthened 0.57 percent compared with the end of September to 94.64 on October 14, according to the latest CFETS data.
Zhu Haibin, China Chief Economist at J.P. Morgan, said China will focus more on the stability in trade-weighted exchange rate rather than bilateral dollar/yuan exchange rate.
"This could provide a transparent scheme to anchor market expectations," Zhu added.
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2020-09-15
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