Chinese yuan's real EER strengthens for 6 months: BIS
The real effective exchange rate (EER) of the Chinese yuan has strengthened for six consecutive months up to December 2020, latest data from the Bank for International Settlement (BIS) showed.
According to BIS's monthly data, the real EER of the Chinese yuan has climbed 3.94 percent to 126.31 from June to December in 2020.
The nominal EER dropped to 119.04 in December last year, down by 0.69 from that in November, data from the BIS showed.
The BIS EER indices cover 60 economies, including the United States, Australia, China, individual euro area countries, and separately, the euro area as an entity.
The most recent weights are based on trade in the 2014 to 2016 period, with 2010 as the indices' base year.
Nominal EERs are calculated as geometric weighted averages of bilateral exchange rates, while the real EERs are the same weighted averages of bilateral exchange rates adjusted by relative consumer prices. An increase in the index indicates an appreciation.