Bank of China's (BOC) OBOR RMB Index, the first index measuring effective exchange rate changes of RMB against currencies of "Belt and Road"-related countries, remained stable against a basket of currencies in January, according to BOC.
By January 25, the BOC OBORR index crept up 0.1 percent over December 1, 2015 to 144.42 points and its sub-indices all ran stably, with RMB up a tad against currencies of part of countries along the "Belt and Road" region.
Analysts say stability of the BOC OBORR index family after RMB was included in a basket of currencies for Special Drawing Rights (SDR) demonstrates value of RMB in hedging exchange rate change risks.
As BOC data shows, BOC OBORR sub-indices for Europe, Middle East and Africa closed at 174.30 points by January 25, up 11.87 points and the index for Southeast Asia shed 2.1 points to end at 125.1 points. Its index gauging RMB's exchange rate over active currencies ticked up 4.72 points to 146.26 points.
Latest comments