MNI: PBOC Sets Yuan Parity Lower At 7.1656 Tues; +1.11% Y/Y
Jun-24 01:26
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1656 on Tuesday, compared with 7.1710 set on Monday. The fixing was estimated at 7.1627 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1656 | 8.3106 | 4.9137 |
| Prev. Fixing | 7.1710 | 8.2509 | 4.9113 |
| Prev. Official Close | 7.1858 | -- | -- |
| % Chg Y/Y | +1.11 | -7.60 | -9.07 |
| % Chg Since Jan. 1 | +1.57 | -9.86 | -6.13 |
| % Chg Since July '05 | +15.50 | -- | -- |
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.
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