MNI: PBOC Sets Yuan Parity Lower At 7.1030 Fri; -0.35% Y/Y
Aug-29 01:39
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1030 on Friday, compared with 7.1063 set on Thursday. The fixing was estimated at 7.1281 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1030 | 8.3008 | 4.8428 |
| Prev. Fixing | 7.1063 | 8.2915 | 4.8394 |
| Prev. Official Close | 7.1385 | -- | -- |
| % Chg Y/Y | -0.35 | -5.24 | +2.18 |
| % Chg Since Jan. 1 | +2.25 | -9.76 | -4.76 |
| % Chg Since July '05 | +16.51 | -- | -- |
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.
