MNI: PBOC Sets Yuan Parity Lower At 7.0638 Fri; +3.42% Y/Y
Dec-12 01:20
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0638 on Friday, compared with 7.0686 set on Thursday. The fixing was estimated at 7.0510 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0638 | 8.2842 | 4.5344 |
| Prev. Fixing | 7.0686 | 8.2593 | 4.5304 |
| Prev. Official Close | 7.0580 | -- | -- |
| % Chg Y/Y | +3.42 | -9.49 | +1.61 |
| % Chg Since Jan. 1 | +3.41 | -9.58 | +1.72 |
| % Chg Since July '05 | +17.16 | -- | -- |
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.
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