Vs Parity Previous USD/CNY Central Parity 6.1087 6.1066 USD/CNY OTC 0830 GMT 6.0513 -0.94% 6.0505 High 6.0527 -0.92% Low 6.0497 -0.97% SHANGHAI--China's yuan ended mostly unchanged against the U.S. dollar Wednesday as corporate dollar selling offset the central bank's efforts to guide the currency weaker. On the over-the-counter market, the dollar was at CNY6.0513 around 0830 GMT, slightly higher than Tuesday's close of CNY6.0505. It traded in a range of CNY6.0497 to CNY6.0527. The People's Bank of China set the dollar/yuan central parity rate at 6.1087, higher than Tuesday's 6.1066. "Despite all the selling pressure from customers, we think the dollar-yuan pair will stay above 6.0500 before the Lunar New Year," said a Shanghai-based foreign bank trader. He added the PBOC's move to cancel all the trades under 6.0500 earlier this month made traders believe 6.0500 is a key support level for the regulator. Traders said that all trades under 6.0500 were asked to be withdrawn on Jan. 10 and they believed the central bank was buying dollars to slow the yuan's advance as it approaches a key milestone of 6.0000 to the dollar following years of steady gains. China's yuan was one of the few currencies last year to climb against the dollar as investors keep heading to the fast-growing Chinese economy. The yuan rose 2.9% against the dollar last year. Offshore, one-year dollar/yuan nondeliverable forward contracts rose to 6.1040/6.1090 from 6.1005/6.1030 late Tuesday, implying a 0.9% fall by the yuan over the next year. In the offshore yuan market in Hong Kong, where the Chinese currency floats freely, the dollar was at CNY6.0282 late Wednesday, higher than CNY6.0268 late Tuesday.

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