MNI: PBOC Sets Yuan Parity Lower At 7.1057 Tues; -0.86% Y/Y
Sep-23 01:45
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1057 on Tuesday, compared with 7.1106 set on Monday. The fixing was estimated at 7.1087 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1057 | 8.3877 | 4.8108 |
| Prev. Fixing | 7.1106 | 8.3516 | 4.8060 |
| Prev. Official Close | 7.1148 | -- | -- |
| % Chg Y/Y | -0.86 | -7.65 | -1.05 |
| % Chg Since Jan. 1 | +2.59 | -10.69 | -4.13 |
| % Chg Since July '05 | +16.47 | -- | -- |
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.
