MNI: PBOC Sets Yuan Parity Lower At 6.9007 Thurs; +5.51% Y/Y
Mar-05 01:27
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 6.9007 on Thursday, compared with 6.9124 set on Wednesday. The fixing was estimated at 6.9027 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 6.9007 | 8.0362 | 4.3985 |
| Prev. Fixing | 6.9124 | 8.0214 | 4.3831 |
| Prev. Official Close | 6.9120 | -- | -- |
| % Chg Y/Y | +5.51 | -5.98 | +10.03 |
| % Chg Since Jan. 1 | +1.11 | +2.07 | +1.53 |
| % Chg Since July '05 | +19.93 | -- | -- |
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.
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