MNI: PBOC Sets Yuan Parity Lower At 7.0856 Tues; -0.19% Y/Y
Oct-28 01:31
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0856 on Tuesday, compared with 7.0881 set on Monday. The fixing was estimated at 7.1031 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0856 | 8.2622 | 4.6459 |
| Prev. Fixing | 7.0881 | 8.2546 | 4.6382 |
| Prev. Official Close | 7.1109 | -- | -- |
| % Chg Y/Y | -0.19 | -6.51 | +0.43 |
| % Chg Since Jan. 1 | +2.64 | -9.33 | -0.72 |
| % Chg Since July '05 | +16.80 | -- | -- |
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.
