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MNI: PBOC Sets Dollar-Yuan Parity at 7.0570; Down 3.34% Y/Y

     BEIJING (MNI) - The People's Bank of China (PBOC) set the dollar-yuan
central parity rate lower at 7.0570 on Monday, compared with 7.0572 on Friday.
                      USD-CNY  EUR-CNY  JPY-CNY
Today's fixing         7.0570   7.8627   6.7235
Prev. fixing           7.0572   7.8305   6.6371
Prev. official close   7.0825       --       --
%Chg y/y                -3.34    +0.72    -8.03
%Chg since Jan. 1       -3.06    -0.13    -7.09
%Chg since July '05    +17.27       --       --
     - 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.
--MNI Beijing Bureau; +86 (10) 8532-5998; email:
--MNI Sydney Bureau; +61 405322399; email:

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