MNI: PBOC Sets Yuan Parity Lower At 7.1007 Mon; -0.28% Y/Y
Oct-13 01:38
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1007 on Monday, compared with 7.1048 set on Friday. The fixing was estimated at 7.1234 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1007 | 8.2524 | 4.6845 |
| Prev. Fixing | 7.1048 | 8.2338 | 4.6534 |
| Prev. Official Close | 7.1232 | -- | -- |
| % Chg Y/Y | -0.28 | -6.54 | +1.32 |
| % Chg Since Jan. 1 | +2.47 | -9.23 | -1.54 |
| % Chg Since July '05 | +16.55 | -- | -- |
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.
