MNI: PBOC Sets Yuan Parity Higher At 7.2073 Thurs; +0.17% Y/Y
May-08 01:29
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.2073 on Thursday, compared with 7.2005 set on Wednesday. The fixing was estimated at 7.2354 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.2073 | 8.1596 | 5.0202 |
| Prev. Fixing | 7.2005 | 8.1650 | 5.0345 |
| Prev. Official Close | 7.2254 | -- | -- |
| % Chg Y/Y | +0.17 | -5.47 | -9.02 |
| % Chg Since Jan. 1 | +1.02 | -8.19 | -8.13 |
| % Chg Since July '05 | +14.83 | -- | -- |
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.
