MNI: PBOC Sets Yuan Parity Lower At 7.0064 Thurs; +5.13% Y/Y
Jan-15 01:43
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0064 on Thursday, compared with 7.0120 set on Wednesday. The fixing was estimated at 6.9705 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0064 | 8.1312 | 4.4086 |
| Prev. Fixing | 7.0120 | 8.1423 | 4.3958 |
| Prev. Official Close | 6.9734 | -- | -- |
| % Chg Y/Y | +5.13 | -8.74 | +4.63 |
| % Chg Since Jan. 1 | +0.22 | +0.88 | +1.30 |
| % Chg Since July '05 | +18.12 | -- | -- |
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.
