MNI: PBOC Sets Yuan Parity Lower At 7.0867 Mon; +0.72% Y/Y
Nov-03 01:56
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0867 on Monday, compared with 7.0880 set on Friday. The fixing was estimated at 7.1192 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0867 | 8.1845 | 4.6083 |
| Prev. Fixing | 7.0880 | 8.2138 | 4.6103 |
| Prev. Official Close | 7.1135 | -- | -- |
| % Chg Y/Y | +0.72 | -6.02 | +1.87 |
| % Chg Since Jan. 1 | +2.60 | -8.47 | +0.09 |
| % Chg Since July '05 | +16.78 | -- | -- |
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.
