MNI: PBOC Sets Yuan Parity Lower At 7.0754 Weds; +2.52% Y/Y
Dec-03 01:25
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0754 on Wednesday, compared with 7.0794 set on Tuesday. The fixing was estimated at 7.0665 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0754 | 8.2210 | 4.5360 |
| Prev. Fixing | 7.0794 | 8.2113 | 4.5495 |
| Prev. Official Close | 7.0712 | -- | -- |
| % Chg Y/Y | +2.52 | -7.55 | +4.99 |
| % Chg Since Jan. 1 | +3.22 | -8.88 | +1.68 |
| % Chg Since July '05 | +16.97 | -- | -- |
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.
