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BEIJING (MNI) - The yuan traded weaker against the U.S. dollar on Monday
even after a higher daily fixing rate set by the People's Bank of China (PBOC).
The yuan was last at 6.4899 against the dollar, down from the official
closing price of 6.4851 on Friday.
The PBOC set the yuan central parity rate against the dollar at 6.4832
today, higher than last Friday's 6.4915. Today's fixing is the highest since May
In the money market, the seven-day repo average dropped to 2.6735% from
Friday's average of 2.6860%. Conversely, the overnight repo average rose to
2.4394% from Friday's 2.3957%.
The yield on benchmark 10-year China government bonds gained to 3.9150%
from Friday's close of 3.9100%.
Shanghai stock market rose, led by coal-mining and property shares. The
benchmark Shanghai Composite Index last rose 0.33% to 3,402.83.
In Hong Kong, the Hang Seng Index dropped 0.02% to 30,808.41.
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