MNI: PBOC Sets Yuan Parity Lower At 7.1034 Thurs; -0.79% Y/Y
Sep-11 01:26
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1034 on Thursday, compared with 7.1062 set on Wednesday. The fixing was estimated at 7.1167 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1034 | 8.3158 | 4.8262 |
| Prev. Fixing | 7.1062 | 8.3210 | 4.8274 |
| Prev. Official Close | 7.1221 | -- | -- |
| % Chg Y/Y | -0.79 | -5.20 | +2.55 |
| % Chg Since Jan. 1 | +2.48 | -9.92 | -4.43 |
| % 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.
