MNI: PBOC Sets Yuan Parity Lower At 7.0949 Fri; -0.16% Y/Y
Oct-17 02:05
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0949 on Friday, compared with 7.0968 set on Thursday. The fixing was estimated at 7.1196 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0949 | 8.3074 | 4.7324 |
| Prev. Fixing | 7.0968 | 8.2755 | 4.7077 |
| Prev. Official Close | 7.1249 | -- | -- |
| % Chg Y/Y | -0.16 | -7.38 | -1.01 |
| % Chg Since Jan. 1 | +2.44 | -9.83 | -2.54 |
| % Chg Since July '05 | +16.65 | -- | -- |
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.
