September 02, 2024 01:58 GMT
MNI: PBOC Sets Yuan Parity Lower At 7.1027 Mon; +2.85% Y/Y
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1027 on Monday, compared with 7.1124 set on Friday. The fixing was estimated at 7.1035 by Bloomberg survey today.
USD-CNY | EUR-CNY | JPY-CNY | |
Today's Fixing | 7.1027 | 7.8444 | 4.8480 |
Prev. Fixing | 7.1124 | 7.8807 | 4.9054 |
Prev. Official Close | 7.0881 | -- | -- |
% Chg Y/Y | 2.85 | +0.47 | +3.37 |
% Chg Since Jan. 1 | +0.05 | -0.29 | +3.70 |
% Chg Since July '05 | +16.52 | -- | -- |
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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