Chinese yuan notches weaker

30 Mar, 2004

The yuan ended two notches weaker versus the 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 3,550 points implying a rate of 7.923 yuan per dollar in 12 months' time.
One-year implied yuan volatility was traded at 7.00/8.50 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 $660 million, up from Friday's $487 million.
The yuan weakened to 7.8322 against 100 Japanese yen from 7.8112, but firmed against the euro to 10.0031 from 10.0445.

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