Jun
28

China’s Money Rates Slide as PBOC Easing Weakens Offshore Yuan

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China’s benchmark money-market rate dropped the most in five months and the yuan weakened in offshore trading after the central bank cut borrowing costs and relaxed reserve requirements for some lenders.

The seven-day repurchase rate sank 25 basis points to 2.68 percent as of 10:35 a.m. in Shanghai, a weighted average shows. Interest-rate swaps fell and bonds gained. The yuan retreated 0.11 percent to 6.2124 per dollar in Hong Kong. Currencies declined across emerging markets open for trading as an increased risk of Greece leaving the euro bolstered demand for the greenback and the Japanese yen…

China’s Money Rates Slide as PBOC Easing Weakens Offshore Yuan

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