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MNI: PBOC Sets Yuan Parity Higher at 6.5786; Up 6.86% Y/Y

MNI (Singapore)

The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 6.5786 on Friday, compared with the 6.5484 set on Thursday.

USD-CNY

EUR-CNY

JPY-CNY

Today's Fixing

6.5786

7.8064

6.3352

Prev. Fixing

6.5484

7.7618

6.3067

Prev. Official Close

6.5851

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% Chg Y/Y

+6.86

-0.33

+2.19

% Chg Since Jan. 1

+5.79

+0.12

+1.12

% Chg Since July '05

+25.80

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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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