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MNI: PBOC Sets Yuan Parity Higher At 6.4758 Thurs; +7.29% Y/Y

MNI (Singapore)

The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 6.4758 on Thursday, comparing with the 6.4565 set on Wednesday and marks the biggest daily rise since Jan 25.

USD-CNY

EUR-CNY

JPY-CNY

Today's Fixing

6.47587.80266.0471

Prev. Fixing

6.4565

7.8016

6.0469

Prev. Official Close

6.4620

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% Chg Y/Y

+7.29

-0.97

+6.64

% Chg Since Jan. 1

+1.20

+2.85

+4.57

% Chg Since July '05

+27.80

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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.

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