MNI: PBOC Sets Yuan Parity Higher At 7.1740 Thurs; -0.77% Y/Y
Feb-27 01:21
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1740 on Thursday, compared with 7.1732 set on Wednesday. The fixing was estimated at 7.2570 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1740 | 7.5556 | 4.8495 |
| Prev. Fixing | 7.1732 | 7.5713 | 4.8443 |
| Prev. Official Close | 7.2647 | -- | -- |
| % Chg Y/Y | -0.77 | +2.37 | -2.19 |
| % Chg Since Jan. 1 | +0.61 | -0.86 | -4.89 |
| % Chg Since July '05 | +15.36 | -- | -- |
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.
