MNI: PBOC Sets Yuan Parity Higher At 7.1085 Thurs; -1.20% Y/Y
Sep-18 01:28
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1085 on Thursday, compared with 7.1013 set on Wednesday. The fixing was estimated at 7.1101 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1085 | 8.4025 | 4.8396 |
| Prev. Fixing | 7.1013 | 8.4249 | 4.8510 |
| Prev. Official Close | 7.1056 | -- | -- |
| % Chg Y/Y | -1.20 | -6.78 | -0.17 |
| % Chg Since Jan. 1 | +2.72 | -10.85 | -4.70 |
| % Chg Since July '05 | +16.42 | -- | -- |
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.
