MNI: PBOC Sets Yuan Parity Lower At 7.1702 Mon; -1.06% Y/Y
Feb-17 01:24
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1702 on Monday, compared with 7.1706 set on Friday. The fixing was estimated at 7.2653 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1702 | 7.5394 | 4.7424 |
| Prev. Fixing | 7.1706 | 7.5318 | 4.7170 |
| Prev. Official Close | 7.2654 | -- | -- |
| % Chg Y/Y | -1.06 | +2.25 | +0.03 |
| % Chg Since Jan. 1 | +0.46 | -0.64 | -2.74 |
| % Chg Since July '05 | +15.42 | -- | -- |
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.
