MNI: China Yuan CFETS Index Rises To Highest Since June 2016

     BEIJING (MNI) - China's currency surged to the highest level in almost 18

months on a trade-weighted basis against those of its major trading partners,

according to weekly data released Monday by the People's Bank of China.

     The CFETS Weekly RMB Index, which measures the yuan relative to a basket of

24 currencies, gained 0.47% last week from a week ago to 95.70, the highest

since June 17, 2016, when the trade-weighted index stood at 95.82.

     As of Jan. 26, the RMB gauge has recorded a 0.9% gain the year-to-date, up

from 94.85 on Dec. 29, according to MNI's calculations. 

     ***COMMENT: The RMB index has risen 0.90% so far this year, compared with a

0.02% appreciation through the whole of 2017. Some in the market believe that

the RMB's surge may prompt the PBOC to intervene if it touches 96, since the

immediate impact may slow China's exports. 

Date        Yuan Index  Week-on-week Change

-------------------------------------------

26/01/2018       95.70                0.47%

19/01/2018       95.25                0.53%

12/01/2018       94.75               -0.16%

05/01/2018       94.90                0.05%

29/12/2017       94.85                0.20%

22/12/2017       94.66                0.22%

15/12/2017       94.45               -0.15%

08/12/2017       94.59                0.22%

01/12/2017       94.38               -0.31%

24/11/2017       94.67               -0.32%

17/11/2017       94.70               -0.37%

10/11/2017       95.05               -0.30%

03/11/2017       95.34                0.34%

27/10/2017       95.02                0.04%

20/10/2017       94.64               -0.38%

13/10/2017       95.00                0.70%

29/09/2017       94.34               -0.21%

22/09/2017       94.54               -0.34%

15/09/2017       94.86               -0.32%

08/09/2017       95.16                0.78%

01/09/2017       94.42                0.70%

25/08/2017       93.76               -0.06%

18/08/2017       93.82               -0.22%

11/08/2017       94.03                1.26%

04/08/2017       92.86                0.13%

28/07/2017       92.74               -0.18%

21/07/2017       92.91               -0.46%

14/07/2017       93.34               -0.19%

07/07/2017       93.52                0.25%

30/06/2017       93.29                0.08%

23/06/2017       93.22               -0.02%

16/06/2017       93.24                0.16%

09/06/2017       93.09               -0.08%

02/06/2017       93.16                0.83%

31/05/2017       92.39                0.14%

26/05/2017       92.26               -0.25%

19/05/2017       92.49               -0.57%

12/05/2017       93.06                0.06%

05/05/2017       93.00                0.24%

28/04/2017       92.78               -0.22%

21/04/2017       92.98               -0.21%

14/04/2017       93.18               -0.04%

07/04/2017       93.22                0.31%

31/03/2017       92.93                0.02%

24/03/2017       92.91               -0.44%

17/03/2017       93.32               -0.97%

10/03/2017       94.23               -0.05%

03/03/2017       94.28                0.47%

24/02/2017       93.84               -0.39%

17/02/2017       94.21                0.19%

10/02/2017       94.03                0.00%

03/02/2017       94.03               -0.20%

26/01/2017       94.22               -0.69%

20/01/2017       94.87                0.09%

13/01/2017       94.78               -0.49%

06/01/2017       95.25                   NA

30/12/2016       94.83               -0.27%

23/12/2016       95.09                0.11%

16/12/2016       94.99                0.33%

09/12/2016       94.68               -0.24%

02/12/2016       94.91                0.25%

25/11/2016       94.67                0.14%

18/11/2016       94.54                0.22%

11/11/2016       94.33                0.59%

04/11/2016       93.78               -0.39%

28/10/2016       94.15               -0.16%

21/10/2016        94.3               -0.36%

14/10/2016       94.64                0.61%

30/09/2016       94.07               -0.04%

23/09/2016       94.11               -0.18%

14/09/2016       94.28                0.26%

09/09/2016       94.04               -0.52%

02/09/2016       94.53                0.50%

26/08/2016       94.06               -0.05%

19/08/2016       94.11               -0.40%

12/08/2016       94.49               -0.24%

05/08/2016       94.72               -0.65%

29/07/2016       95.34                0.15%

22/07/2016        95.2                0.87%

15/07/2016       94.38                0.14%

08/07/2016       94.25               -0.66%

01/07/2016       94.88               -0.43%

24/06/2016       95.29               -0.55%

17/06/2016       95.82               -0.20%

08/06/2016       96.01               -1.02%

03/06/2016          97               -0.21%

27/05/2016        97.2               -0.15%

20/05/2016       97.35                0.38%

13/05/2016       96.98                0.38%

06/05/2016       96.61               -0.53%

29/04/2016       97.12               -0.10%

22/04/2016       97.22               -0.16%

15/04/2016       97.38               -0.27%

08/04/2016       97.64               -0.38%

01/04/2016       98.01               -0.15%

25/03/2016       98.16                0.11%

18/03/2016       98.05               -0.78%

11/03/2016       98.82               -0.34%

04/03/2016       99.16               -0.13%

26/02/2016       99.29               -0.15%

19/02/2016       99.44                0.21%

05/02/2016       99.23               -0.92%

29/01/2016      100.15               -0.68%

22/01/2016      100.84                0.45%

15/01/2016      100.39                0.43%

08/01/2016       99.96               -0.97%

31/12/2015      100.94                0.07%

25/12/2015      100.87               -0.64%

18/12/2015      101.52                0.07%

11/12/2015      101.45               -1.44%

30/11/2015      102.93

     - Percentage changes are calculated by MNI based on CFETS data. 

- Data from China Foreign Exchange Trading System (CFETS), PBOC's unit for

running the country's interbank market.   

- Yuan index value was at 100 at the end of 2014. All data from CFETS.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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