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MNI: PBOC Sets Yuan Parity Higher At 6.4845 Thurs; +8.24% Y/Y

MNI (Singapore)

The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 6.4845 on Thursday. This compares with the 6.4665 set on Wednesday.

USD-CNY

EUR-CNY

JPY-CNY

Today's Fixing

6.48457.84356.2233

Prev. Fixing

6.4665

7.8620

6.2382

Prev. Official Close

6.4671

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% Chg Y/Y

+8.24

-1.87

+2.39

% Chg Since Jan. 1

+1.12

+2.31

+1.61

% Chg Since July '05

+27.63

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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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