MNI: PBOC Sets Yuan Parity Lower At 7.0006 Tues; +5.29% Y/Y
Jan-20 01:20
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0006 on Tuesday, compared with 7.0051 set on Monday. The fixing was estimated at 6.9585 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0006 | 8.1186 | 4.4087 |
| Prev. Fixing | 7.0051 | 8.1097 | 4.4281 |
| Prev. Official Close | 6.9636 | -- | -- |
| % Chg Y/Y | +5.29 | -8.16 | +5.93 |
| % Chg Since Jan. 1 | +0.36 | +1.04 | +1.30 |
| % Chg Since July '05 | +18.22 | -- | -- |
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.
