China yuan ends at new high of 7.0448 to US dollar vs 7.0555 in OTC trade

BEIJING - The yuan finished at 7.0448 against the US dollar on the over-the-counter (OTC) market, up from 7.0555 yesterday.
On the exchange-traded market, the yuan also ended at a new record of 7.0478, up from 7.0525 previously, a Guangzhou-based trader with a foreign bank said.
The yuan traded between 7.0603 and 7.0436 on the OTC market and between 7.0525 and 7.0467 in the exchange-traded market.
The central bank set the yuan central parity rate at a new record of 7.0436 to the dollar this morning, compared with the midpoint of 7.0518 set the previous trading day. The yuan's daily trading band is currently set at 0.5 pct.