MNI: PBOC Sets Yuan Parity Lower At 7.0686 Thurs; +3.14% Y/Y
Dec-11 01:19
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0686 on Thursday, compared with 7.0753 set on Wednesday. The fixing was estimated at 7.0528 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0686 | 8.2593 | 4.5304 |
| Prev. Fixing | 7.0753 | 8.2258 | 4.5096 |
| Prev. Official Close | 7.0638 | -- | -- |
| % Chg Y/Y | +3.14 | -9.20 | +3.62 |
| % Chg Since Jan. 1 | +3.33 | -9.30 | +1.81 |
| % Chg Since July '05 | +17.08 | -- | -- |
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.
