MNI: PBOC Sets Yuan Parity Higher At 7.0856 Tues; +1.99% Y/Y
Nov-18 01:25
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.0856 on Tuesday, compared with 7.0816 set on Monday. The fixing was estimated at 7.1114 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0856 | 8.2223 | 4.5710 |
| Prev. Fixing | 7.0816 | 8.2296 | 4.5859 |
| Prev. Official Close | 7.1048 | -- | -- |
| % Chg Y/Y | +1.99 | -8.04 | +2.68 |
| % Chg Since Jan. 1 | +2.73 | -8.89 | +0.90 |
| % Chg Since July '05 | +16.80 | -- | -- |
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.
