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MNI: PBOC Sets Yuan Parity Lower at 7.0385; Down 2.25% Y/Y

     BEIJING (MNI) - The People's Bank of China (PBOC) set the dollar-yuan
central parity rate lower for the second day at 7.0385 on Wednesday, compared
with Tuesday's 7.0400. 
                      USD-CNY  EUR-CNY  JPY-CNY
-----------------------------------------------
Today's fixing         7.0385   7.8076   6.4697
Prev. fixing           7.0400   7.7893   6.4837
Prev. official close   7.0385       --       --
%Chg y/y                -2.25    +0.33    -5.58
%Chg since Jan 1        -2.45    +0.57    -3.44
%Chg since July '05    +17.58       --       --
     - 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; +86 (10) 8532-5998; email: wanxia.lin@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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