MNI: PBOC Sets Yuan Parity Higher At 7.1788 Tues; -0.34% Y/Y
Mar-25 01:27
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1788 on Tuesday, compared with 7.1780 set on Monday. The fixing was estimated at 7.2624 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1788 | 7.7864 | 4.7886 |
| Prev. Fixing | 7.1780 | 7.8004 | 4.8247 |
| Prev. Official Close | 7.2520 | -- | -- |
| % Chg Y/Y | -0.34 | -1.41 | -1.52 |
| % Chg Since Jan. 1 | +0.65 | -3.79 | -3.68 |
| % Chg Since July '05 | +15.28 | -- | -- |
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.
