China will adjust the weightings of two key yuan index baskets in 2024, the country's foreign exchange trade platform said on Friday (Dec 29), to better reflect trade patterns. From Jan 1, the China Foreign Exchange Trade System (CFETS), which is overseen by the central bank, will lower the US dollar's weighting in the CFETS currency basket to 19.46 per cent from 19.83 per cent and cut the euro's weighting to 18.08 per cent from 18.21 per cent, according to an online statement. The adjustments will "further enhance the representativeness of the yuan currency basket index," CFETS said in the statement. China lowered ... (full story)