Vs Parity Previous
USD/CNY Central Parity 6.3092 6.3029
USD/CNY OTC 0830 GMT 6.3229 +0.22% 6.3241
High 6.3285 +0.31%
Low 6.3217 +0.20%
SHANGHAI (Dow Jones)--The yuan rose against the U.S. dollar late Wednesday, reversing early losses as dealers sold the dollar on profit-taking despite the central bank guiding the yuan weaker via its daily reference rate.
On the over-the-counter market, the dollar was at CNY6.3229 around 0830 GMT, falling from Tuesday's close of CNY6.3241. It traded in a range of CNY6.3217 to CNY6.3286.
Ahead of trading, the People's Bank of China set the dollar-yuan central parity rate at 6.3092, higher than Wednesday's 6.3029, following the U.S. unit's gains overseas. The ICE Dollar Index, which tracks the dollar against a basket of currencies, was at 79.616 late Tuesday in New York from 79.452 late Monday. At 0902 GMT, it was at 79.354.
The yuan has fallen 0.46% against the dollar since the start of this year.
Offshore, the one-year dollar-yuan nondeliverable forward contract was at 6.3315/6.3415 from 6.3345/6.3385 late Tuesday, implying a 0.19% fall by the yuan against the dollar over the next year.
In the offshore yuan market in Hong Kong, where the Chinese currency floats freely, the dollar was at CNY6.3260 late Wednesday, rising from CNY6.3230 late Tuesday.
-Wynne Wang contributed to this article, Dow Jones Newswires; (86-21) 6120-1200; wynne.wang@dowjones.com
