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BEIJING (MNI) - The yuan was barely changed against the U.S. dollar Friday
morning after the People's Bank of China set a weaker daily fixing.
The yuan was last at 6.6106 against the U.S. unit, compared with the
official closing price of 6.6107 on Thursday.
The PBOC set the yuan central parity rate against the U.S. dollar at 6.6067
on Friday, slightly weaker than Thursday's 6.6034. It was the fifth consecutive
trading day the PBOC has set a weaker fixing.
Money market rates fell Friday morning after CNY40 billion was drained from
the market after the PBOC skipped open-market operations. The seven-day repo
average was last at 2.7680% on Friday, much lower than Thursday's average of
2.9471%. The overnight repo average was at 2.5895%, much lower than Thursday's
The yield on benchmark 10-year China government bonds was last at 3.8900%,
down from the previous close of 3.9000%, according to Wind, a financial data
Stocks were down, led lower by the air freight and coal mining sectors. The
benchmark Shanghai Composite Index was last down 0.05% at 3,315.51. Hong Kong's
Hang Seng Index was 0.24% higher at 29,248.34.
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