MNI: PBOC Sets Yuan Parity Higher At 7.1894 Weds; +0.71% Y/Y
May-28 01:31
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1894 on Wednesday, compared with 7.1876 set on Tuesday. The fixing was estimated at 7.2014 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1894 | 8.1558 | 4.9915 |
| Prev. Fixing | 7.1876 | 8.1849 | 5.0349 |
| Prev. Official Close | 7.1949 | -- | -- |
| % Chg Y/Y | +0.71 | -4.62 | -8.28 |
| % Chg Since Jan. 1 | +1.44 | -8.15 | -7.60 |
| % Chg Since July '05 | +15.11 | -- | -- |
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.
