MNI: PBOC Sets Yuan Parity Lower At 7.1710 Weds; -1.55% Y/Y
Feb-12 01:27
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1710 on Wednesday, compared with 7.1716 set on Tuesday. The fixing was estimated at 7.3010 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1710 | 7.4735 | 4.7385 |
| Prev. Fixing | 7.1716 | 7.4369 | 4.7702 |
| Prev. Official Close | 7.3061 | -- | -- |
| % Chg Y/Y | -1.55 | +2.76 | +0.39 |
| % Chg Since Jan. 1 | -0.10 | +0.23 | -2.66 |
| % 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.
