MNI: PBOC Sets Yuan Parity Higher At 6.8959 Thurs; +5.75% Y/Y
Mar-12 01:25
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 6.8959 on Thursday, compared with 6.8917 set on Wednesday. The fixing was estimated at 6.8840 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 6.8959 | 7.9568 | 4.3339 |
| Prev. Fixing | 6.8917 | 7.9986 | 4.3575 |
| Prev. Official Close | 6.8700 | -- | -- |
| % Chg Y/Y | +5.75 | -1.82 | +13.51 |
| % Chg Since Jan. 1 | +1.73 | +3.09 | +3.05 |
| % Chg Since July '05 | +20.01 | -- | -- |
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.
