MNI: PBOC Sets Yuan Parity Lower At 7.0523 Mon; +3.71% Y/Y
Dec-23 01:30
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0523 on Tuesday, compared with 7.0572 set on Monday. The fixing was estimated at 7.0296 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0523 | 8.2828 | 4.4846 |
| Prev. Fixing | 7.0572 | 8.2531 | 4.4699 |
| Prev. Official Close | 7.0382 | -- | -- |
| % Chg Y/Y | +3.71 | -9.14 | +3.09 |
| % Chg Since Jan. 1 | +3.70 | -9.56 | +2.85 |
| % Chg Since July '05 | +17.35 | -- | -- |
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.
