The yuan ended two notches stronger versus the dollar at 8.2773 on Friday, remaining near the stronger end of its managed trading range.
The one-year non-deliverable dollar forward discount versus the yuan was at 3,700 points implying a rate of 7.908 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 7.50/8.50 percent on Friday.
The yuan moves in a band of 8.2760 to 8.2800 enforced by the central bank.
Turnover for the day was not immediately available. It rose to $580 million on Thursday. The yuan weakened to 7.7192 against 100 Japanese yen from 7.7168, and softened against the euro to 10.2535 from 10.1384.
Comments
Comments are closed.