Chinese yuan's nominal EER rises to highest point in over 5 years: BIS

BEIJING -- The nominal effective exchange rate (EER) of the Chinese yuan in May hit its highest point since April 2016, the latest data from the Bank for International Settlement (BIS) shows.

According to monthly BIS data, the nominal EER of the Chinese yuan climbed 1.12 percent to 122.01 from April 2016 to May 2021.

The real EER edged down from 127.17 in April this year to 127.08 in May, BIS data shows.

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 2014-2016 period, with 2010 as the indices' base year.

Nominal EERs are calculated as geometric weighted averages of bilateral exchange rates, while real EERs are the same weighted averages of bilateral exchange rates adjusted by relative consumer prices. An increase in an index indicates appreciation.