MNI: PBOC Sets Yuan Parity Higher At 7.1108 Weds; -0.46% Y/Y
Sep-03 01:58
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1108 on Wednesday, compared with 7.1089 set on Tuesday. The fixing was estimated at 7.1494 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1108 | 8.2855 | 4.8005 |
| Prev. Fixing | 7.1089 | 8.3276 | 4.8388 |
| Prev. Official Close | 7.1476 | -- | -- |
| % Chg Y/Y | -0.46 | -5.26 | +3.45 |
| % Chg Since Jan. 1 | +2.12 | -9.59 | -3.92 |
| % Chg Since July '05 | +16.39 | -- | -- |
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.
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