MNI: PBOC Sets Yuan Parity Lower At 7.1337 Thurs; -0.47% Y/Y
Aug-14 01:19
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1337 on Thursday, compared with 7.1350 set on Wednesday. The fixing was estimated at 7.1753 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1337 | 8.3647 | 4.8602 |
| Prev. Fixing | 7.1350 | 8.3464 | 4.8406 |
| Prev. Official Close | 7.1755 | -- | -- |
| % Chg Y/Y | -0.47 | -5.17 | +1.11 |
| % Chg Since Jan. 1 | +1.72 | -10.45 | -5.10 |
| % Chg Since July '05 | +16.01 | -- | -- |
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.
