MNI: PBOC Sets Yuan Parity Higher At 6.9007 Fri; +5.17% Y/Y
Mar-13 02:37
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 6.9007 on Friday, compared with 6.8959 set on Thursday. The fixing was estimated at 6.8886 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 6.9007 | 7.9402 | 4.3284 |
| Prev. Fixing | 6.8959 | 7.9568 | 4.3339 |
| Prev. Official Close | 6.8752 | -- | -- |
| % Chg Y/Y | +5.17 | -0.71 | +12.43 |
| % Chg Since Jan. 1 | +1.66 | +3.31 | +3.18 |
| % Chg Since July '05 | +19.93 | -- | -- |
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.
