MNI: PBOC Sets Yuan Parity Higher At 7.1534 Tues; +1.17% Y/Y
Jul-08 01:38
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1534 on Tuesday, compared with 7.1506 set on Monday. The fixing was estimated at 7.1796 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1534 | 8.4110 | 4.9114 |
| Prev. Fixing | 7.1506 | 8.4292 | 4.9545 |
| Prev. Official Close | 7.1747 | -- | -- |
| % Chg Y/Y | +1.17 | -7.35 | -7.66 |
| % Chg Since Jan. 1 | +1.73 | -10.94 | -6.09 |
| % Chg Since July '05 | +15.69 | -- | -- |
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.
