January 14, 2025 01:20 GMT
MNI: PBOC Sets Yuan Parity Lower At 7.1878 Tues; -2.35% Y/Y
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1878 on Tuesday, compared with 7.1885 set on Monday. The fixing was estimated at 7.3202 by Bloomberg survey today.
USD-CNY | EUR-CNY | JPY-CNY | |
Today's Fixing | 7.1878 | 7.4206 | 4.6128 |
Prev. Fixing | 7.1885 | 7.4222 | 4.6067 |
Prev. Official Close | 7.3314 | -- | -- |
% Chg Y/Y | -2.35 | +5.30 | +6.46 |
% Chg Since Jan. 1 | -0.44 | +0.95 | -0.01 |
% Chg Since July '05 | +15.14 | -- | -- |
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.
Keep reading...Show less
107 words