MNI: PBOC Sets Yuan Parity Lower At 7.0825 Fri; +2.04% Y/Y
Nov-14 01:25
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0825 on Friday, compared with 7.0865 set on Thursday. The fixing was estimated at 7.0989 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0825 | 8.2403 | 4.5846 |
| Prev. Fixing | 7.0865 | 8.2223 | 4.5878 |
| Prev. Official Close | 7.0959 | -- | -- |
| % Chg Y/Y | +2.04 | -8.21 | +2.34 |
| % Chg Since Jan. 1 | +2.86 | -9.09 | +0.60 |
| % Chg Since July '05 | +16.85 | -- | -- |
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.
