MNI: PBOC Sets Yuan Parity Lower At 7.1052 Thurs; -0.33% Y/Y
Sep-04 01:33
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1052 on Thursday, compared with 7.1108 set on Wednesday. The fixing was estimated at 7.1405 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1052 | 8.2970 | 4.8112 |
| Prev. Fixing | 7.1108 | 8.2855 | 4.8005 |
| Prev. Official Close | 7.1468 | -- | -- |
| % Chg Y/Y | -0.33 | -5.46 | +3.99 |
| % Chg Since Jan. 1 | +2.13 | -9.71 | -4.13 |
| % 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.
