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MNI: PBOC Sets Yuan Parity Lower at 7.0310; Down 2.13% Y/Y

     BEIJING (MNI) - The People's Bank of China (PBOC) set the dollar-yuan
central parity rate lower for the first day in three trading days at 7.0310 on
Tuesday, compared with the 7.0663 set on Monday, marking the biggest daily rise
since Apr 8, 2020.
                      USD-CNY  EUR-CNY  JPY-CNY
-----------------------------------------------
Today's fixing         7.0310   7.9546   6.5469
Prev. fixing           7.0663   7.9494   6.5694
Prev. official close   7.0330       --       --
%Chg y/y                -2.13    -2.52    -2.63
%Chg since Jan 1        -0.95    -1.75    -2.15
%Chg since July '05    +17.71       --       --
     - 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.
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com
--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com
[TOPICS: MTABLE,M$A$$$,M$Q$$$,MN$FX$]

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