MNI: PBOC Sets Yuan Parity Higher At 6.7888 Thurs; +6.47% Y/Y
Aug-13 01:40
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 6.7888 on Thursday, compared with 6.7882 set on Wednesday. The fixing was estimated at 6.7471 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 6.7888 | 7.8014 | 4.2508 |
| Prev. Fixing | 6.7882 | 7.8095 | 4.2548 |
| Prev. Official Close | 6.7456 | -- | -- |
| % Chg Y/Y | +6.47 | +6.57 | +13.72 |
| % Chg Since Jan. 1 | +3.61 | +5.14 | +5.06 |
| % Chg Since July '05 | +21.91 | -- | -- |
The PBOC started setting daily central parity rates on Jan 4, 2007.
On July 21, 2005, China switched to a managed-float formula against a basket of currencies, weakening the yuan's peg to the dollar.
Since March 17, 2014, the yuan has been allowed to move 2% in a range on either side of the daily fixing against the dollar.
