Chinese yuan ends flat

09 Mar, 2004

The yuan ended flat versus the US dollar at 8.2772 on Monday, remaining near the stronger end of its managed trading range.
The one-year non-deliverable dollar forward discount versus the yuan was at 3,975 points implying a rate of 7.8805 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 7.75/8.35 percent on Monday.
The yuan moves in a band of 8.2760 to 8.2800 enforced by the central bank.
Turnover was not immediately available. It rose to $610 million on Friday. The yuan strengthened to 7.3811 against 100 Japanese yen from 7.4409, but softened against the euro to 10.2360 from 10.1036.

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