MNI: PBOC Sets Yuan Parity Higher At 7.0348 Tues; +4.53% Y/Y
Dec-30 01:29
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.0348 on Tuesday, compared with 7.0331 set on Monday. The fixing was estimated at 7.0136 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0348 | 8.2681 | 4.4069 |
| Prev. Fixing | 7.0331 | 8.2630 | 4.4833 |
| Prev. Official Close | 7.0098 | -- | -- |
| % Chg Y/Y | +4.53 | -9.40 | +4.36 |
| % Chg Since Jan. 1 | +4.12 | -9.40 | +4.66 |
| % Chg Since July '05 | +17.64 | -- | -- |
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.
