MNI: PBOC Sets Yuan Parity Higher At 7.0583 Thurs; +3.59% Y/Y
Dec-18 01:28
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.0583 on Thursday, compared with 7.0573 set on Wednesday. The fixing was estimated at 7.0430 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0583 | 8.2759 | 4.5299 |
| Prev. Fixing | 7.0573 | 8.2803 | 4.5516 |
| Prev. Official Close | 7.0460 | -- | -- |
| % Chg Y/Y | +3.59 | -9.19 | +1.85 |
| % Chg Since Jan. 1 | +3.59 | -9.48 | +1.82 |
| % Chg Since July '05 | +17.25 | -- | -- |
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.
