The yuan ended six notches weaker versus the US dollar at 8.2772 on Tuesday, still near the stronger end of its managed trading range.
The one-year non-deliverable dollar forward discount versus the yuan was at 4,100 points implying a rate of 7.868 yuan per dollar in 12 months' time.
NDFs are a transaction 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 at 8.00/9.50 percent on Tuesday.
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 plunged to $480 million from a strong $1.36 billion on Monday. The yuan firmed against 100 Japanese yen to 7.6994 from 7.7585, and strengthened a whisker against the euro to 10.2368 from 10.2369.
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