MNI: PBOC Sets Yuan Parity Higher At 7.0905 Thurs; +1.96% Y/Y
Nov-20 01:32
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.0905 on Thursday, compared with 7.0872 set on Wednesday. The fixing was estimated at 7.1228 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0905 | 8.1918 | 4.5207 |
| Prev. Fixing | 7.0872 | 8.2164 | 4.5635 |
| Prev. Official Close | 7.1096 | -- | -- |
| % Chg Y/Y | +1.96 | -7.02 | +5.81 |
| % Chg Since Jan. 1 | +2.66 | -8.56 | +2.03 |
| % Chg Since July '05 | +16.72 | -- | -- |
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.
