MNI: PBOC Sets Yuan Parity Higher At 7.1887 Weds; -2.33% Y/Y
Jan-08 01:31
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1887 on Wednesday, compared with 7.1879 set on Tuesday. The fixing was estimated at 7.3415 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1887 | 7.4905 | 4.5991 |
| Prev. Fixing | 7.1879 | 7.5035 | 4.6002 |
| Prev. Official Close | 7.3275 | -- | -- |
| % Chg Y/Y | -2.33 | +3.90 | +6.86 |
| % Chg Since Jan. 1 | -0.39 | +0.01 | 0.29 |
| % Chg Since July '05 | +15.13 | -- | -- |
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.
