MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; +0.76% Y/Y
May-30 01:32
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1848 on Friday, compared with 7.1907 set on Thursday. The fixing was estimated at 7.1708 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1848 | 8.1620 | 4.9861 |
| Prev. Fixing | 7.1907 | 8.1027 | 4.9497 |
| Prev. Official Close | 7.1916 | -- | -- |
| % Chg Y/Y | +0.76 | -4.85 | -7.95 |
| % Chg Since Jan. 1 | +1.49 | -8.22 | -7.50 |
| % Chg Since July '05 | +15.19 | -- | -- |
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.
