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MNI: PBOC Sets Yuan Parity Lower at 6.5749; Up 6.93% Y/Y

MNI (Singapore)

The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 6.5749 on Wednesday, compared with the 6.5809 set on Tuesday.

USD-CNY

EUR-CNY

JPY-CNY

Today's Fixing

6.5749

7.8208

6.2900

Prev. Fixing

6.5809

7.7927

6.2968

Prev. Official Close

6.5761

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% Chg Y/Y

+6.93

-0.94

+2.63

% Chg Since Jan. 1

+5.93

-0.07

+1.84

% Chg Since July '05

+25.87

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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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