September 03, 2024 01:54 GMT
MNI: PBOC Sets Yuan Parity Higher At 7.1112 Tues; +2.13% Y/Y
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate higher at 7.1112 on Tuesday, compared with 7.1027 set on Monday. The fixing was estimated at 7.1117 by Bloomberg survey today.
USD-CNY | EUR-CNY | JPY-CNY | |
Today's Fixing | 7.1112 | 7.8654 | 4.8414 |
Prev. Fixing | 7.1027 | 7.8444 | 4.8480 |
Prev. Official Close | 7.1115 | -- | -- |
% Chg Y/Y | 2.13 | -0.65 | +2.83 |
% Chg Since Jan. 1 | -0.27 | -0.55 | +3.84 |
% Chg Since July '05 | +16.38 | -- | -- |
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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