BEIJING (XFN-ASIA) - The China Foreign Exchange Trading System (CFETS) set
the reference rate this morning for seven-day repurchase agreements at 2.3980
pct against 2.4220 pct last Friday.
The overnight repurchase rate was set at 2.0570 pct against 2.2800 pct
previously.
The rates, based on the median trading level from 9.00 to 11.00 am, are
released daily at 11.00 am on the CFETS website (www.chinamoney.com.cn).
CFETS began the daily fixing of overnight and seven-day repurchase rates in
March 2006 to provide a reference for derivatives such as interest rate
forwards, swaps and short-term interest rate futures.
ivy.cheng@xinhuafinance.com
ic/kmq
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xfnic/xfnkm
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