MNI: PBOC Sets Yuan Parity Lower At 7.1938 Fri; +0.37% Y/Y
May-16 01:47
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1938 on Friday, compared with 7.1963 set on Thursday. The fixing was estimated at 7.2118 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1938 | 8.0573 | 4.9494 |
| Prev. Fixing | 7.1963 | 8.0564 | 4.9184 |
| Prev. Official Close | 7.2132 | -- | -- |
| % Chg Y/Y | +0.37 | -4.02 | -7.68 |
| % Chg Since Jan. 1 | +1.19 | -7.03 | -6.81 |
| % Chg Since July '05 | +15.04 | -- | -- |
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.
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