MNI: PBOC Sets Yuan Parity Lower At 7.2005 Weds; +0.25% Y/Y
May-07 01:27
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.2005 on Wednesday, compared with 7.2008 set on Tuesday. The fixing was estimated at 7.2147 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.2005 | 8.1650 | 5.0345 |
| Prev. Fixing | 7.2008 | 8.1535 | 5.0269 |
| Prev. Official Close | 7.2169 | -- | -- |
| % Chg Y/Y | +0.25 | -5.76 | -9.12 |
| % Chg Since Jan. 1 | +1.13 | -8.26 | -8.39 |
| % Chg Since July '05 | +14.94 | -- | -- |
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.
