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The yuan ended one notch weaker at 8.2769 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 1,650 points implying a rate of 8.113 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 traded at 5.10/6.10 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 rose to $840 million from $720 million on Friday.
The yuan softened to 7.4695 against 100 yen from Friday's 7.3966, and weakened against the euro to 10.2301 from 10.1239.
China's central bank plans to sell a relatively small 8 billion yuan ($966.6 million) in bills on the open market on Tuesday, the same as last week, after recent large sales siphoned off cash from the market.

Copyright Reuters, 2004

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