MNI: PBOC Sets Yuan Parity Lower At 7.1027 Tues; -1.18% Y/Y
Sep-16 01:53
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1027 on Tuesday, compared with 7.1056 set on Monday. The fixing was estimated at 7.1163 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1027 | 8.3571 | 4.8211 |
| Prev. Fixing | 7.1056 | 8.3327 | 4.8147 |
| Prev. Official Close | 7.1228 | -- | -- |
| % Chg Y/Y | -1.18 | -6.04 | +1.76 |
| % Chg Since Jan. 1 | +2.47 | -10.36 | -4.33 |
| % Chg Since July '05 | +16.52 | -- | -- |
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.
