A position-measuring system is for measuring the position of an object, movable in several degrees of freedom, relative to a stationary object. The position-measuring system includes at least one measuring graduation that is joined to one of the objects, as well as a plurality of scanning units which are joined to the other object and which generate raw position signals based on the optical scanning of the measuring graduation. Moreover, a multiplexer unit is provided, the raw position signals generated by the scanning units being supplied to the multiplexer unit, and from there, the raw position signals of the various scanning units being transmitted in time multiplex operation to a downstream sequential electronics, without converting the raw position signals into position values beforehand.