MNI: PBOC Yuan Parity Lower At 7.1894 Wednesday; -4.84% Y/Y
The People's Bank of China (PBOC) set the dollar-yuan central parity rate lower at 7.1894 on Wednesday, compared with 7.1986 set on Tuesday. The fixing was estimated at 7.2808 by Bloomberg survey today.
Prev. Official Close
% Chg Y/Y
% Chg Since Jan. 1
% Chg Since July '05
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.