MNI: PBOC Sets Yuan Parity Lower At 7.1696 Weds; -0.47% Y/Y
Mar-12 01:43
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1696 on Wednesday, compared with 7.1741 set on Tuesday. The fixing was estimated at 7.2269 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1696 | 7.8840 | 4.8663 |
| Prev. Fixing | 7.1741 | 7.8118 | 4.9195 |
| Prev. Official Close | 7.2306 | -- | -- |
| % Chg Y/Y | -0.47 | -1.62 | -1.58 |
| % Chg Since Jan. 1 | +0.94 | -4.99 | -5.22 |
| % Chg Since July '05 | +15.43 | -- | -- |
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.
