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BEIJING (MNI) - The yuan gained against the U.S. dollar on Friday after the
People's Bank of China set the fixing rate stronger for the day.
The yuan was last at 6.4827 against the U.S. unit, compared with the
closing price of 6.5088 on Thursday.
The PBOC set the yuan central parity rate against the dollar at 6.4932,
stronger than Thursday's 6.5147. The PBOC has set the yuan stronger for three
trading days out of five this week.
Money market rates were lower Friday morning. The seven-day repo average
was last at 2.8456%, compared with Thursday's average of 2.9376%. The overnight
repo average was at 2.8199%, compared with Thursday's 2.8396%.
The yield on benchmark 10-year China government bonds was last at 3.9500%,
unchanged from the previous close.
Stocks rose in Shanghai, leading by the property sector. The benchmark
Shanghai Composite Index gained 0.1% to end the morning trading session at
3,428.65. Hong Kong's Hang Seng Index was 0.47% higher at 31,267.95.
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