MNI: PBOC Sets Yuan Parity Higher At 7.1418 Tues; -0.19% Y/Y
Aug-12 01:19
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1418 on Tuesday, compared with 7.1405 set on Monday. The fixing was estimated at 7.1905 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1418 | 8.3142 | 4.8341 |
| Prev. Fixing | 7.1405 | 8.3349 | 4.8495 |
| Prev. Official Close | 7.1818 | -- | -- |
| % Chg Y/Y | -0.19 | -5.28 | -0.13 |
| % Chg Since Jan. 1 | +1.63 | -9.90 | -4.59 |
| % Chg Since July '05 | +15.88 | -- | -- |
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.
