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China Discloses Composition Of Yuan Currency Basket





Not much information with the weighting, but it is better than nothing.

From Wall Street Journal:

China disclosed for the first time Wednesday the composition of the basket of currencies used to set the yuan's value, saying it mainly includes the U.S. dollar, euro, Japanese yen and Korean won.

The currencies of Singapore, Britain, Malaysia, Russia, Australia, Canada and Thailand are also considered in setting the yuan's foreign-exchange rate, Zhou Xiaochuan, the central bank governor, said during a speech to launch a new operations center for the People's Bank of China in Shanghai. Mr. Zhou made no of the Hong Kong dollar or Taiwan dollar in his speech, currencies of two of China's important trading partners.

The news dispels at least some of the mystery surrounding the yuan's new exchange rate, although there was no information about the weighting of each currency in the basket.

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