MNI: PBOC Sets Yuan Parity Higher At 7.0954 Weds; +0.35% Y/Y
Oct-22 01:26
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.0954 on Wednesday, compared with 7.0930 set on Tuesday. The fixing was estimated at 7.1251 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0954 | 8.2450 | 4.6816 |
| Prev. Fixing | 7.0930 | 8.2734 | 4.7163 |
| Prev. Official Close | 7.1171 | -- | -- |
| % Chg Y/Y | +0.35 | -6.31 | -0.49 |
| % Chg Since Jan. 1 | +2.55 | -9.15 | -1.48 |
| % Chg Since July '05 | +16.64 | -- | -- |
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.
