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BEIJING (MNI) - The yuan fell against the U.S. dollar on Friday morning
after the People's Bank of China set a weaker fixing for the day.
The yuan was last at 6.6184 against the U.S. unit, weaker than the official
closing price of 6.6155 on Thursday, after opening at 6.6180.
The People's Bank of China set the yuan central parity rate against the
U.S. dollar weaker at 6.6218 on Friday, compared with Thursday's 6.6195. The
PBOC has set the fixing weaker for 10 consecutive trading days, with today's
fixing the weakest since Nov. 22.
Money market rates mixed after the PBOC drained a net CNY10 billion from
the banking system after skipping its open market operations. The seven-day repo
average was last at 2.7542%, lower than Thursday's average of 2.8051%. The
overnight repo average was at 2.5772%, higher than Thursday's 2.5682%.
The yield on benchmark 10-year China government bonds was last at 3.8988%,
up from the previous close of 3.8800%, according to Wind, a financial data
Stocks fell, dragged down by the coal and real estate sectors in the
morning session, with the benchmark Shanghai Composite Index 0.06% lower at
3,3269.93. Hong Kong's Hang Seng Index was 0.51% higher at 28,446.64.
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