MNI: PBOC Sets Yuan Parity Higher At 7.1712 Thurs; -1.19% Y/Y
Feb-20 01:20
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1712 on Thursday, compared with 7.1705 set on Wednesday. The fixing was estimated at 7.2874 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1712 | 7.5024 | 4.7807 |
| Prev. Fixing | 7.1705 | 7.5178 | 4.7559 |
| Prev. Official Close | 7.2851 | -- | -- |
| % Chg Y/Y | -1.19 | +3.05 | -0.88 |
| % Chg Since Jan. 1 | +0.19 | -0.15 | -3.52 |
| % Chg Since July '05 | +15.41 | -- | -- |
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.
