MNI: PBOC Sets Yuan Parity Higher At 7.0749 Fri; +2.74% Y/Y
Dec-05 01:41
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.0749 on Friday, compared with 7.0733 set on Thursday. The fixing was estimated at 7.0740 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0749 | 8.2376 | 4.5597 |
| Prev. Fixing | 7.0733 | 8.2372 | 4.5468 |
| Prev. Official Close | 7.0690 | -- | -- |
| % Chg Y/Y | +2.74 | -8.13 | +4.00 |
| % Chg Since Jan. 1 | +3.25 | -9.06 | +1.15 |
| % Chg Since July '05 | +16.98 | -- | -- |
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.
