MNI: PBOC Sets Yuan Parity Lower At 7.0331 Mon; +4.58% Y/Y
Dec-29 01:30
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0331 on Monday, compared with 7.0358 set on Friday. The fixing was estimated at 7.0049 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0331 | 8.2630 | 4.4833 |
| Prev. Fixing | 7.0358 | 8.2747 | 4.4998 |
| Prev. Official Close | 7.0085 | -- | -- |
| % Chg Y/Y | +4.58 | -9.19 | +2.61 |
| % Chg Since Jan. 1 | +4.14 | -9.34 | +2.88 |
| % Chg Since July '05 | +17.67 | -- | -- |
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.
