MNI: PBOC Sets Yuan Parity Higher At 7.0773 Tues; +2.98% Y/Y
Dec-09 01:44
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.0773 on Tuesday, compared with 7.0764 set on Monday. The fixing was estimated at 7.0764 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0773 | 8.2372 | 4.5391 |
| Prev. Fixing | 7.0764 | 8.2374 | 4.5563 |
| Prev. Official Close | 7.0713 | -- | -- |
| % Chg Y/Y | +2.98 | -7.77 | +3.51 |
| % Chg Since Jan. 1 | +3.22 | -9.06 | +1.61 |
| % Chg Since July '05 | +16.94 | -- | -- |
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.
