MNI: PBOC Sets Yuan Parity Lower At 7.1714 Weds; -1.20% Y/Y
Mar-05 02:25
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1714 on Wednesday, compared with 7.1739 set on Tuesday. The fixing was estimated at 7.2635 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1714 | 7.6452 | 4.8179 |
| Prev. Fixing | 7.1739 | 7.5557 | 4.8395 |
| Prev. Official Close | 7.2788 | -- | -- |
| % Chg Y/Y | -1.20 | +1.87 | +0.76 |
| % Chg Since Jan. 1 | +0.27 | -2.02 | -4.27 |
| % Chg Since July '05 | +15.40 | -- | -- |
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.
