BEIJING (MNI) - The Chinese yuan barely moved in November, ending the month stronger at 6.8271 per dollar versus the October close of 6.8275.

The 0.006% rise over November marks the smallest monthly move for the Chinese currency since currency reforms were unveiled in July 2005.

The trading close came just hours after the end of a visit to China by senior European monetary leaders who appear to have been rebuffed by their Chinese counterparts in calling for the resumption of the yuan's appreciation against the dollar.

Despite recent speculation that China will remove the peg to the U.S. dollar that was reintroduced last summer in the face of slowing global economic activity, Premier Wen Jiabao told reporters Monday that the government will "stick to the principles of 'independent initiative, controllability and gradual progress' in pursuing yuan exchange rate reform."

"China will maintain a stable yuan exchange rate around a balanced and reasonable level," the Chinese Premier said.

That same message was delivered on Sunday following meetings with European Central Bank President Jean-Claude Trichet, Eurogroup Chairman Jean-Claude Juncker, and E.U. Commissioner for Economic and Monetary Affairs Joaquin Almunia.

Juncker told reporters that he was no more optimistic about the chances of a breakthrough on the Chinese currency than he had been before he arrived.

The yuan has fallen by nearly 14% against the euro over the past year as a result of the State Council's decision to shelve its gradual appreciation policy.

Despite excitement in the markets earlier this month after a change in central bank wording suggested appreciation was set to resume, sources have told Market News International that there are no short-term plans to depeg the yuan as long as the Chinese and global economic recoveries are in such fragile states.

The Chinese yuan fell 0.018% month-on-month against the US dollar in October after rising 0.063% month-on-month in September.

For the first 11 months of the year, the Chinese yuan has lost 0.06% against the greenback.

For all of 2008, the yuan gained 7.05%, the fastest appreciation pace since currency reforms in July 2005 but only slightly faster than the 6.86% rise seen in 2007.

Today's close brings the yuan's gains against the greenback to 21.22% since currency reforms were announced on July 21, 2005, including that day's one-off 2.1% revaluation.

The People's Bank of China set the yuan's central parity rate at 6.8272 to the U.S. dollar on Monday, compared with 6.8269 rate set last Friday.

The yuan's daily trading band is currently set at 0.5% on either side of the central parity.