MNI: PBOC Sets Yuan Parity Higher At 7.0901 Weds; +1.61% Y/Y
Nov-05 01:44
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.0901 on Wednesday, compared with 7.0885 set on Tuesday. The fixing was estimated at 7.1328 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0901 | 8.1586 | 4.6254 |
| Prev. Fixing | 7.0885 | 8.1759 | 4.6072 |
| Prev. Official Close | 7.1233 | -- | -- |
| % Chg Y/Y | +1.61 | -5.77 | +1.27 |
| % Chg Since Jan. 1 | +2.46 | -8.18 | -0.28 |
| % Chg Since July '05 | +16.73 | -- | -- |
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.
