The yuan ended five notches stronger at 8.2765 per US dollar on Wednesday, near the stronger end of its managed trading range.
The one-year non-deliverable dollar forward discount versus the yuan was at 1,160 points implying a rate of 8.162 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 4.80/5.80 percent on Wednesday.
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 was not immediately available. It hit a thin $480 million on Tuesday.
The yuan firmed to 7.4233 against 100 Japanese yen from Tuesday's 7.4463, but softened against the euro to 9.9746 from 9.9561.
China's central bank sold 8 billion yuan in short-term bills and mopped up another 5 billion yuan by entering into repurchase agreements in Tuesday's open market operations.