MNI: PBOC Sets Yuan Parity Higher At 7.1021 Tues; -0.30% Y/Y
Oct-14 01:38
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1021 on Tuesday, compared with 7.1007 set on Monday. The fixing was estimated at 7.1354 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1021 | 8.2257 | 4.6725 |
| Prev. Fixing | 7.1007 | 8.2524 | 4.6845 |
| Prev. Official Close | 7.1329 | -- | -- |
| % Chg Y/Y | -0.30 | -6.37 | +1.15 |
| % Chg Since Jan. 1 | +2.33 | -8.93 | -1.29 |
| % Chg Since July '05 | +16.53 | -- | -- |
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.
