The yuan nudged to a record high on Monday, propped up by a weak dollar and a central bank announcement on Friday that no short-term change to the currency's daily trading band was needed, traders said.
Although it was largely flat, the yuan ended at a record high, closing at 8.0365 against the dollar, stronger than Friday's last quote of 8.0367, but on a level with Monday morning's opening price.
The Chinese currency has appreciated more than 0.9 percent since it was revalued to 8.11 vs the dollar in July.
"It will probably gain 10 or 20 basis points this week, as it did last week," said a dealer with a foreign bank, adding that the trend would be a continuation of slow but steady upward movement in recent weeks.
There was no evidence of direct interference with the yuan price by China's central bank, traders said, although its comments about the trading band have kept the currency's rise slow, which the bank is known to favour.
The yuan is allowed to move 0.3 percent each day up or down against the US dollar, although in practice it does not move nearly so far.
The yuan was last quoted at 6.8700 against 100 Japanese yen, up from 6.9050 at close of trade on Friday. Against the euro, the yuan finished at 9.6990, down from Friday's price of 9.6600.
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