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MNI: PBOC Sets Yuan Parity Lower at 6.3890 Thurs; +4.13% Y/Y

MNI (Singapore)

The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 6.3890 on Thursday, compared with the 6.4069 set on Wednesday, marking the weakest parity since Jun 11, 2021.

USD-CNY

EUR-CNY

JPY-CNY

Today's Fixing

6.38907.44425.5853

Prev. Fixing

6.4069
7.4496
5.5925

Prev. Official Close

6.3936

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% Chg Y/Y

+4.13

+5.94

+13.82

% Chg Since Jan. 1

+2.29

+7.80

+13.22

% Chg Since July '05

+29.54

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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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