MNI: PBOC Sets Yuan Parity Higher At 7.1077 Weds; -0.65% Y/Y
Sep-24 01:31
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1077 on Wednesday, compared with 7.1057 set on Tuesday. The fixing was estimated at 7.1107 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1077 | 8.3939 | 4.8147 |
| Prev. Fixing | 7.1057 | 8.3877 | 4.8108 |
| Prev. Official Close | 7.1133 | -- | -- |
| % Chg Y/Y | -0.65 | -7.80 | -1.52 |
| % Chg Since Jan. 1 | +2.61 | -10.76 | -4.20 |
| % Chg Since July '05 | +16.44 | -- | -- |
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.
