MNI: PBOC Sets Yuan Parity Lower At 7.0602 Tues; +3.52% Y/Y
Dec-16 01:19
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0602 on Tuesday, compared with 7.0656 set on Monday. The fixing was estimated at 7.0495 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0602 | 8.2899 | 4.5466 |
| Prev. Fixing | 7.0656 | 8.2855 | 4.5303 |
| Prev. Official Close | 7.0505 | -- | -- |
| % Chg Y/Y | +3.52 | -9.24 | +1.55 |
| % Chg Since Jan. 1 | +3.52 | -9.64 | +1.44 |
| % Chg Since July '05 | +17.22 | -- | -- |
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.
