MNI: PBOC Sets Yuan Parity Lower At 7.0288 Weds; +4.89% Y/Y
Dec-31 01:19
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0288 on Wednesday, compared with 7.0348 set on Tuesday. The fixing was estimated at 6.9966 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0288 | 8.2355 | 4.4797 |
| Prev. Fixing | 7.0348 | 8.2681 | 4.4069 |
| Prev. Official Close | 6.9901 | -- | -- |
| % Chg Y/Y | +4.89 | -9.30 | +2.56 |
| % Chg Since Jan. 1 | +4.42 | -9.04 | +2.96 |
| % Chg Since July '05 | +17.74 | -- | -- |
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.
