February 07, 2024 01:23 GMT
MNI: PBOC Sets Yuan Parity Higher At 7.1049 Weds; -5.06% Y/Y
MNI (Singapore)
MNI (Beijing)
True
The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1049 on Wednesday, compared with 7.1082 set on Tuesday. The fixing was estimated at 7.1858 by Bloomberg survey today.
USD-CNY |
EUR-CNY
JPY-CNY
Today's Fixing
Prev. Fixing
Prev. Official Close
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% Chg Y/Y
-5.06
-4.60
+6.73
% Chg Since Jan. 1
-1.38
% Chg Since July '05
+16.48
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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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