MNI: PBOC Sets Yuan Parity Higher At 7.1089 Tues; -0.63% Y/Y
Sep-02 01:25
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1089 on Tuesday, compared with 7.1072 set on Monday. The fixing was estimated at 7.1335 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1089 | 8.3276 | 4.8388 |
| Prev. Fixing | 7.1072 | 8.3129 | 4.8340 |
| Prev. Official Close | 7.1332 | -- | -- |
| % Chg Y/Y | -0.63 | -5.49 | +3.03 |
| % Chg Since Jan. 1 | +2.32 | -10.05 | -4.68 |
| % 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.
