The Real Effective Exchange Rate Index for the yuan in June was 116.31, down 1.63 percent month-on-month, according to data from the Bank for International Settlements.
During the first half of this year, the yuan depreciated 3.02 percent in terms of its real effective exchange rate – a measure of its currency in relation to the currency of its major trading partners. Since China's central bank started to reform the yuan's exchange rate regime last June, the central parity price of the yuan against the dollar has risen over 5 percent. But the real effective exchange rate has depreciated 2.29 percent.