The yuan ended flat at 8.2765 per US dollar on Friday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuanwas at 3,800 points implying a rate of 7.898 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 8.50/9.50 percent on Friday.
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 heavy $1.45 billion on Thursday, was not immediately available. The yuan softened to 7.8040 against 100 Japanese yen from 7.7319 on Thursday, and weakened against the euro to 10.6914 from 10.6617.
China's central bank drained a small 5 billion yuan ($604 million) from the banking system in Thursday's open market operations, trimming its weekly action to help the market digest last month's interest rate hike.
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