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BEIJING (MNI) - The yuan fell against the U.S. dollar Friday morning even
though the People's Bank of China set a stronger daily fixing.
The yuan was last at 6.6177 against the U.S. unit, compared with the
official closing price of 6.6063 on Thursday.
The PBOC set the yuan central parity rate against the U.S. dollar at 6.6072
on Friday, stronger than Thursday's 6.6196. It was the fourth straight day the
PBOC has set a stronger fixing.
Money market rates fell Friday morning after the PBOC injected CNY107
billion in liquidity via open-market operations. The seven-day repo average was
last at 2.7211% on Friday, lower than Thursday's average of 2.8437%. The
overnight repo average was at 2.5323%, lower than Thursday's 2.5626%.
The yield on benchmark 10-year China government bonds was last at 3.8900%,
up from the previous close of 3.8725%, according to Wind, a financial data
Stocks were down, led lower by the coal sector. The benchmark Shanghai
Composite Index was last down 0.40% at 3,369.73. Hong Kong's Hang Seng Index was
0.33% higher at 28,612.80.
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