MNI: PBOC Sets Yuan Parity Higher At 7.1062 Weds; -0.50% Y/Y
Sep-10 01:28
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1062 on Wednesday, compared with 7.1008 set on Tuesday. The fixing was estimated at 7.1369 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1062 | 8.3210 | 4.8274 |
| Prev. Fixing | 7.1008 | 8.3611 | 4.8280 |
| Prev. Official Close | 7.1248 | -- | -- |
| % Chg Y/Y | -0.50 | -5.23 | +3.12 |
| % Chg Since Jan. 1 | +2.44 | -9.98 | -4.46 |
| % Chg Since July '05 | +16.46 | -- | -- |
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.
