MNI: PBOC Sets Yuan Parity Lower At 7.1738 Fri; -0.99% Y/Y
Feb-28 01:48
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1738 on Friday, compared with 7.1740 set on Thursday. The fixing was estimated at 7.2849 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.1738 | 7.5045 | 4.8336 |
| Prev. Fixing | 7.1740 | 7.5556 | 4.8495 |
| Prev. Official Close | 7.2710 | -- | -- |
| % Chg Y/Y | -0.99 | +3.05 | -1.57 |
| % Chg Since Jan. 1 | +0.38 | -0.18 | -4.58 |
| % 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.
