From Jan. 1, the China Foreign Exchange Trade System (CFETS), which is overseen by the central bank, will lower the U.S. dollar’s weighting in the CFETS currency basket to 18.903% from 19.46%, cut the euro’s weighting to 17.902% from 18.08%, and reduce the yen’s weighting to 8.584% from 8.963%, according to an online statement.
It will add Macau’s pataca to the basket, bringing the total number of currencies in the CFETS basket to 25 next year.
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