MNI: PBOC Sets Yuan Parity Higher At 7.1546 Weds; +1.51% Y/Y
Jul-02 01:21
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1546 on Wednesday, compared with 7.1534 set on Tuesday. The fixing was estimated at 7.1634 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1546 | 8.4451 | 4.9905 |
| Prev. Fixing | 7.1534 | 8.4305 | 4.9738 |
| Prev. Official Close | 7.1618 | -- | -- |
| % Chg Y/Y | +1.51 | -8.19 | -10.33 |
| % Chg Since Jan. 1 | +1.91 | -11.30 | -7.58 |
| % Chg Since July '05 | +15.67 | -- | -- |
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.
