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MNI: PBOC Sets Dollar-Yuan Parity at 7.0708; Down 1.98% Y/Y

     BEIJING (MNI) - The People's Bank of China (PBOC) set the dollar-yuan
central parity rate lower at 7.0708 on Tuesday, compared with 7.0725 on Monday.
                      USD-CNY  EUR-CNY  JPY-CNY
-----------------------------------------------
Today's fixing         7.0708   7.7920   6.5195
Prev. fixing           7.0725   7.8023   6.5254
Prev. official close   7.0669       --       --
%Chg y/y                -1.98    +2.73    -5.56
%Chg since Jan. 1       -2.85    +0.77    -4.18
%Chg since July '05    +17.05       --       --
     - 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; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com
--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com
[TOPICS: MTABLE,M$A$$$,M$Q$$$,MN$FX$]

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