MNI: PBOC Sets Yuan Parity Higher At 7.1879 Tues; -2.42% Y/Y
Jan-07 01:27
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1879 on Tuesday, compared with 7.1876 set on Monday. The fixing was estimated at 7.3197 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1879 | 7.5035 | 4.6002 |
| Prev. Fixing | 7.1876 | 7.4443 | 4.6065 |
| Prev. Official Close | 7.3296 | -- | -- |
| % Chg Y/Y | -2.42 | +3.83 | +7.02 |
| % Chg Since Jan. 1 | -0.42 | -0.17 | 0.26 |
| % Chg Since July '05 | +15.14 | -- | -- |
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.
