MNI: PBOC Sets Yuan Parity Lower At 7.2029 Tues; -1.01% Y/Y
Apr-29 01:27
China
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.2029 on Tuesday, compared with 7.2043 set on Monday. The fixing was estimated at 7.2803 by Bloomberg survey today.
| USD-CNY | EUR-CNY | JPY-CNY | |
| Today's Fixing | 7.2029 | 8.2370 | 5.0897 |
| Prev. Fixing | 7.2043 | 8.2125 | 5.0434 |
| Prev. Official Close | 7.2995 | -- | -- |
| % Chg Y/Y | -1.01 | -6.96 | -9.74 |
| % Chg Since Jan. 1 | -0.01 | -9.06 | -9.38 |
| % Chg Since July '05 | +14.90 | -- | -- |
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.
