MNI: PBOC Sets Yuan Parity Lower At 6.8917 Weds; +5.33% Y/Y
Mar-11 01:40
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 6.8917 on Wednesday, compared with 6.8982 set on Tuesday. The fixing was estimated at 6.8816 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 6.8917 | 7.9986 | 4.3575 |
| Prev. Fixing | 6.8982 | 8.0198 | 4.3717 |
| Prev. Official Close | 6.8718 | -- | -- |
| % Chg Y/Y | +5.33 | -2.37 | +12.10 |
| % Chg Since Jan. 1 | +1.71 | +2.55 | +2.49 |
| % Chg Since July '05 | +20.09 | -- | -- |
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.
