MNI: PBOC Sets Yuan Parity Higher At 6.9057 Mon; +4.95% Y/Y
Mar-16 01:35
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 6.9057 on Monday, compared with 6.9007 set on Friday. The fixing was estimated at 6.9060 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 6.9057 | 7.8960 | 4.3276 |
| Prev. Fixing | 6.9007 | 7.9402 | 4.3284 |
| Prev. Official Close | 6.9030 | -- | -- |
| % Chg Y/Y | +4.95 | -0.79 | +12.45 |
| % Chg Since Jan. 1 | +1.25 | +3.88 | +3.20 |
| % Chg Since July '05 | +19.84 | -- | -- |
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.
