MNI: PBOC Sets Yuan Parity Higher At 7.1728 Thurs; -0.64% Y/Y
Mar-13 02:00
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1728 on Thursday, compared with 7.1696 set on Wednesday. The fixing was estimated at 7.2433 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1728 | 7.8340 | 4.8662 |
| Prev. Fixing | 7.1696 | 7.8840 | 4.8663 |
| Prev. Official Close | 7.2445 | -- | -- |
| % Chg Y/Y | -0.64 | -1.15 | -1.71 |
| % Chg Since Jan. 1 | +0.75 | -4.38 | -5.22 |
| % Chg Since July '05 | +15.38 | -- | -- |
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.
