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China sets yuan at much stronger fixing than markets expected

By Inquirer - 8 months ago
SHANGHAI  — China’s central bank set the yuan fixing at the widest gap against Reuters’ estimate in nearly five months, as authorities step up efforts to prevent sharp declines in the currency. Prior to the market’s opening, the People’s Bank of China (PBOC) set the midpoint rate at 7.0948 per U.S. dollar, around which the

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