MNI: PBOC Sets Yuan Parity Higher At 7.1963 Thurs; +0.40% Y/Y
May-15 01:47
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1963 on Thursday, compared with 7.1956 set on Wednesday. The fixing was estimated at 7.2169 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1963 | 8.0564 | 4.9184 |
| Prev. Fixing | 7.1956 | 8.0358 | 4.8700 |
| Prev. Official Close | 7.2083 | -- | -- |
| % Chg Y/Y | +0.40 | -3.79 | -6.85 |
| % Chg Since Jan. 1 | +1.26 | -7.02 | -6.22 |
| % Chg Since July '05 | +15.00 | -- | -- |
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.
