Chinese yuan unchanged versus US dollar

03 Jun, 2004

The yuan remained unchanged versus the US dollar at 8.2767 on Wednesday near the stronger end of its managed trading range.
The one-year non-deliverable dollar forward discount versus the yuan was at 2,375 points implying a rate of 8.0405 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 6.75/8.00 percent on Wednesday.
The yuan moves in a band of 8.2760 to 8.2800 enforced by the central bank.

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