Chinese yuan notches firmer

11 Feb, 2004

The yuan ended one notch firmer versus the US dollar at 8.2772, remaining near the stronger end of its managed trading range.
The one-year non-deliverable dollar forward discount versus the yuan was at 4,150 points implying a rate of 7.863 yuan per dollar in 12 months' time.
One-year implied yuan volatility was traded at 8.50/10.50 percent on Tuesday.
The yuan moves in a band of 8.2760 to 8.2800 enforced by the central bank.
Turnover was not immediately available, but weighed in at a meagre $340 million on Monday. The yuan softened to 7.8406 against 100 Japanese yen from 7.8233, and weakened against the euro to 10.5159 from 10.5019.

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