Vs Parity Pvs USD/CNY Central Parity 6.3587 6.3585 USD/CNY OTC 0830 GMT 6.3778 +0.30% 6.3841 High 6.3850 +0.41% Low 6.3736 +0.23% SHANGHAI (Dow Jones)--China's yuan rose against the U.S. dollar late Tuesday, tracking other stronger Asian currencies as the euro gained against the dollar ahead of a meeting of European finance ministers over bailout plans for the bloc. On the over-the-counter market, the dollar was at CNY6.3778 around 0830 GMT, down from CNY6.3841 late Monday. It traded between CNY6.3736 and CNY6.3850. The yuan has risen 3.3% against the dollar this year and 7.0% since June 2010, when China ended its currency's peg to the dollar. Ahead of trading, the People's Bank of China fixed the dollar/yuan central parity rate at 6.3587, little changed from Monday's 6.3585, apparently ignoring a rally in the euro overnight. The yuan often tracks movements in the euro, with both currencies dependent on risk appetite among investors. "Judging from today's fixing, the PBOC has no interest in letting the yuan appreciate as the year winds down. The pair may stay in a 6.33 to 6.38 range to end the year," a Shanghai-based trader at an Asian bank said. The gap between the PBOC's daily fixing and yuan's rate on the over-the-counter market has widened in recent sessions as the dollar strengthened amid a flight to safety and routine end-of-the-month trade settlements. The state-run Xinhua News Agency said Tuesday in a commentary that China's key policy focus now is to keep the yuan stable. The yuan exchange rate is likely "entering a new phase," Xinhua said, citing former central bank adviser Li Yang. Xinhua did not elaborate on Li's remarks but many analysts have been suggesting that the yuan is no longer on a slow but steady upward path, and that it may now be more common to see the yuan rise and fall. Offshore, the yuan rose against the dollar in both the nondeliverable forward and spot markets, tracking the onshore market. One-year dollar-yuan nondeliverable forward contracts fell to 6.3940/6.4040 from 6.4050/6.4100 late Monday, and implying a 0.3% fall by the yuan against the U.S. currency over the next year. In the offshore yuan market in Hong Kong, where the Chinese currency floats freely, the dollar-yuan exchange rate was at 6.3935 compared with 6.3975 late Monday. -By Jean Yung, Dow Jones Newswires; 8621 6120-1200; jean.yung@dowjones.com

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