MNI: PBOC Sets Yuan Parity Lower At 7.1048 Fri; -0.02% Y/Y
Oct-10 01:29
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1048 on Friday, compared with 7.1102 set on Thursday. The fixing was estimated at 7.1338 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1048 | 8.2338 | 4.6534 |
| Prev. Fixing | 7.1102 | 8.2825 | 4.6648 |
| Prev. Official Close | 7.1246 | -- | -- |
| % Chg Y/Y | -0.02 | -6.27 | +1.95 |
| % Chg Since Jan. 1 | +2.44 | -9.02 | -0.88 |
| % Chg Since July '05 | +16.48 | -- | -- |
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.
