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The yuan finished unchanged at 8.2765 per US dollar on Monday, near the stronger end of its managed trading range.
The one-year non-deliverable dollar forward discount versus the yuan was at 2,200 points implying a rate of 8.058 yuan per dollar in 12 months' time.
NDFs are transactions where a forward price is agreed between a customer and a bank, but settlement on the value date is undertaken entirely in US dollars.
One-year implied yuan volatility was traded at 5.15/5.70 percent on Monday.
Implied volatility is a measure of how much the options market expects the price of the underlying asset to move during the life of the option.
The yuan moves in a band of 8.2760 to 8.2800 enforced by the central bank.
Turnover, a decent $780 million on Friday, was not immediately available. The yuan firmed to 7.5283 against 100 Japanese yen from Friday's 7.5419, and strengthened against the euro to 10.0628 from 10.0790.
China's central bank aims to sell 20 billion yuan ($2.4 billion) in bills on the open market on Tuesday, a marginal rise from 18 billion yuan last week, to help constrict funds in the banking system.

Copyright Reuters, 2004

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