MNI: PBOC Sets Yuan Parity Lower At 7.1706 Fri; -1.30% Y/Y
Feb-14 01:46
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1706 on Friday, compared with 7.1719 set on Thursday. The fixing was estimated at 7.2769 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1706 | 7.5318 | 4.7170 |
| Prev. Fixing | 7.1719 | 7.5061 | 4.6921 |
| Prev. Official Close | 7.3089 | -- | -- |
| % Chg Y/Y | -1.30 | +2.23 | +0.88 |
| % Chg Since Jan. 1 | +0.08 | -0.54 | -2.22 |
| % 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.
