January 21, 2025 01:38 GMT
MNI: PBOC Sets Yuan Parity Lower At 7.1703 Tue; -1.66% Y/Y
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1703 on Tuesday, the lowest level since Nov 8, 2024, compared with 7.1886 set on Monday. The fixing was estimated at 7.2934 by Bloomberg survey today.
USD-CNY | EUR-CNY | JPY-CNY | |
Today's Fixing | 7.1703 | 7.5002 | 4.6550 |
Prev. Fixing | 7.1886 | 7.4228 | 4.6475 |
Prev. Official Close | 7.3161 | -- | -- |
% Chg Y/Y | -1.66 | +3.40 | +3.65 |
% Chg Since Jan. 1 | -0.24 | -0.12 | -0.92 |
% Chg Since July '05 | +15.42 | -- | -- |
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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