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China central bank firms yuan guidance rate for first time in 9 trading days

Friday, January 8, 2016 - 09:36
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The People's Bank of China set the midpoint rate at 6.5636 per dollar prior to market open, firmer than the previous fix of 6.5646, and firmer than the previous day's closing quote 6.5929.

[SHANGHAI] The People's Bank of China set the midpoint rate at 6.5636 per dollar prior to market open, firmer than the previous fix of 6.5646, and firmer than the previous day's closing quote 6.5929.

That is the first time the PBOC has firmed the midpoint against the dollaar in 9 trading days, after it allowed the biggest fall in the yuan in five months on Thursday, pressuring regional currencies and sending global stock markets tumbling as investors feared it would trigger competitive devaluations.

REUTERS

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