MNI: PBOC Sets Yuan Parity Lower At 7.2008 Tues; -0.53% Y/Y
May-06 02:02
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.2008 on Tuesday, compared with 7.2014 set on April 30, the last working day before the Labour Day holiday. The fixing was estimated at 7.2465 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.2008 | 8.1535 | 5.0269 |
| Prev. Fixing | 7.2014 | 8.2250 | 5.0872 |
| Prev. Official Close | 7.2632 | -- | -- |
| % Chg Y/Y | -0.53 | -5.77 | -8.76 |
| % Chg Since Jan. 1 | +0.49 | -8.13 | 8.25 |
| % Chg Since July '05 | +14.93 | -- | -- |
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.
