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BEIJING (MNI) - The Chinese yuan rose to 6.2697 against the U.S. dollar
Friday morning from yesterday's 6.2904 closing following today's stronger
fixing. The selloff in the dollar index today also boosted the strong
performance of the yuan.
The People's Bank of China set the yuan central parity rate vs the U.S.
dollar at 6.2881 on Friday, stronger than Thursday's 6.3046. The central bank
has set the fixing stronger for four trading days out of five this week.
Interbank market rates diverged after PBOC chose not to conduct open-market
operation, which resulted in a net drain of CNY30 billion.
- 7-day repo average dropped to 2.9032% from 2.9406% yesterday;
- Overnight repo average was last at 2.7034%, up from 2.5570% yesterday,
considering cross-month liquidity demand is increasing
The yield on 10-year China Government Bond fell to 3.7400% from the 3.7550%
close yesterday: Wind Information.
The Shanghai Composite Index rose 0.07% to 3162.66 at 11:14 am Friday, while
Hong Kong's Hang Seng Index was up 0.24% at 30,093.38.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: email@example.com
--MNI Singapore Bureau; +65 8233 2326; email: Asia-Editor@marketnews.com