MNI: PBOC Sets Yuan Parity Lower At 7.0230 Mon; +4.43% Y/Y
Jan-05 01:23
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0230 on Monday, compared with 7.0288 set before New Year holiday. The fixing was estimated at 6.9888 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0230 | 8.2027 | 4.4660 |
| Prev. Fixing | 7.0288 | 8.2355 | 4.4797 |
| Prev. Official Close | 6.9890 | -- | -- |
| % Chg Y/Y | +4.43 | -8.68 | +3.28 |
| % Chg Since Jan. 1 | +0.00 | +0.00 | +0.00 |
| % Chg Since July '05 | +17.84 | -- | -- |
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.
