MNI: PBOC Sets Yuan Parity Lower At 7.1903 Thurs; +0.56% Y/Y
May-22 02:00
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1903 on Thursday, compared with 7.1937 set on Wednesday. The fixing was estimated at 7.2035 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1903 | 8.1462 | 5.0009 |
| Prev. Fixing | 7.1937 | 8.1265 | 4.9908 |
| Prev. Official Close | 7.2065 | -- | -- |
| % Chg Y/Y | +0.56 | -4.85 | -8.98 |
| % Chg Since Jan. 1 | +1.28 | -8.04 | -7.77 |
| % Chg Since July '05 | +15.10 | -- | -- |
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.
