MNI: PBOC Sets Yuan Parity Higher At 7.0187 Weds; +4.70% Y/Y
Jan-07 01:21
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.0187 on Wednesday, compared with 7.0173 set on Tuesday. The fixing was estimated at 6.9849 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0187 | 8.1822 | 4.4662 |
| Prev. Fixing | 7.0173 | 8.1919 | 4.4664 |
| Prev. Official Close | 6.9813 | -- | -- |
| % Chg Y/Y | +4.70 | -9.02 | +3.14 |
| % Chg Since Jan. 1 | +0.11 | +0.25 | +0.00 |
| % Chg Since July '05 | +17.91 | -- | -- |
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.
