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MNI: PBOC Sets Yuan Parity Lower at 6.3903 Tues; +2.73% Y/Y

MNI (Singapore)

The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 6.3903 on Tuesday, compared with the 6.3959 set on Monday.

USD-CNY

EUR-CNY

JPY-CNY

Today's Fixing

6.39037.40235.6418

Prev. Fixing

6.3959
7.3945
5.6333

Prev. Official Close

6.3981

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% Chg Y/Y

+2.73

+5.21

+11.00

% Chg Since Jan. 1

+2.21

+8.41

+12.08

% Chg Since July '05

+29.51

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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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