MNI: PBOC Sets Yuan Parity Lower At 7.0550 Fri; +3.65% Y/Y
Dec-19 01:47
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0550 on Friday, compared with 7.0583 set on Thursday. The fixing was estimated at 7.0378 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0550 | 8.2616 | 4.5274 |
| Prev. Fixing | 7.0583 | 8.2759 | 4.5299 |
| Prev. Official Close | 7.0419 | -- | -- |
| % Chg Y/Y | +3.65 | -8.81 | +1.56 |
| % Chg Since Jan. 1 | +3.65 | -9.33 | +1.88 |
| % Chg Since July '05 | +17.31 | -- | -- |
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.
