MNI: PBOC Sets Yuan Parity Lower At 7.0968 Thurs; +0.04% Y/Y
Oct-16 01:19
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.0968 on Thursday, compared with 7.0995 set on Wednesday. The fixing was estimated at 7.1208 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.0968 | 8.2755 | 4.7077 |
| Prev. Fixing | 7.0995 | 8.2498 | 4.6871 |
| Prev. Official Close | 7.1238 | -- | -- |
| % Chg Y/Y | +0.04 | -7.11 | -0.80 |
| % Chg Since Jan. 1 | +2.46 | -9.48 | -2.03 |
| % Chg Since July '05 | +16.62 | -- | -- |
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.
