MNI: PBOC Sets Yuan Parity Higher At 7.1705 Fri; -0.95% Y/Y
Mar-07 01:49
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1705 on Friday, compared with 7.1692 set on Thursday. The fixing was estimated at 7.2413 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1705 | 7.7607 | 4.8706 |
| Prev. Fixing | 7.1692 | 7.7573 | 4.8378 |
| Prev. Official Close | 7.2428 | -- | -- |
| % Chg Y/Y | -0.95 | +0.24 | -0.92 |
| % Chg Since Jan. 1 | +0.77 | -3.48 | -5.30 |
| % Chg Since July '05 | +15.42 | -- | -- |
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.
