MNI: PBOC Sets Yuan Parity Higher At 7.1705 Weds; -1.10% Y/Y
Feb-19 01:35
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1705 on Wednesday, compared with 7.1697 set on Tuesday. The fixing was estimated at 7.2783 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1705 | 7.5178 | 4.7559 |
| Prev. Fixing | 7.1697 | 7.5331 | 4.7616 |
| Prev. Official Close | 7.2783 | -- | -- |
| % Chg Y/Y | -1.10 | +2.65 | -0.21 |
| % Chg Since Jan. 1 | +0.28 | -0.36 | -3.02 |
| % Chg Since July '05 | +15.42 | -- | -- |
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.
