MNI: PBOC Sets Yuan Parity Higher At 7.1064 Fri; -0.38% Y/Y
Sep-05 01:31
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1064 on Friday, compared with 7.1052 set on Thursday. The fixing was estimated at 7.1415 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1064 | 8.2953 | 4.7992 |
| Prev. Fixing | 7.1052 | 8.2970 | 4.8112 |
| Prev. Official Close | 7.1402 | -- | -- |
| % Chg Y/Y | -0.38 | -5.49 | +4.04 |
| % Chg Since Jan. 1 | +2.22 | -9.70 | -3.89 |
| % 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.
