MNI: PBOC Sets Yuan Parity Lower At 7.1688 Mon; -0.41% Y/Y
Mar-17 01:30
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1688 on Monday, compared with 7.1738 set on Friday. The fixing was estimated at 7.2217 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1688 | 7.8196 | 4.8430 |
| Prev. Fixing | 7.1738 | 7.8113 | 4.8767 |
| Prev. Official Close | 7.2288 | -- | -- |
| % Chg Y/Y | -0.41 | -0.55 | -2.42 |
| % Chg Since Jan. 1 | +0.97 | -4.20 | -4.76 |
| % Chg Since July '05 | +15.45 | -- | -- |
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.
