January 02, 2025 01:37 GMT
MNI: PBOC Sets Yuan Parity Lower At 7.1879 Thurs; -2.83% Y/Y
MNI (BEIJING) - The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1879 on Jan 2, compared with 7.1884 set on last trading day in 2024. The fixing was estimated at 7.3202 by Bloomberg survey today.
USD-CNY | EUR-CNY | JPY-CNY | |
Today's Fixing | 7.1879 | 7.4910 | 4.6123 |
Prev. Fixing | 7.1884 | 7.5257 | 4.6233 |
Prev. Official Close | 7.2988 | -- | -- |
% Chg Y/Y | -2.83 | +4.42 | +9.00 |
% Chg Since Jan. 1 | 0.00 | 0.00 | 0.00 |
% 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.
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