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China Daily | Updated: 2014-03-07 08:17
Benchmark money-market rate hits 20-month low
China's benchmark money-market rate fell to a 20-month low as the central bank drained the least cash from the financial system since January. The People's Bank of China sold 50 billion yuan ($8.2 billion) of 28-day repurchase agreements and 43 billion yuan of 14-day repos on Thursday, it said in a statement, bringing net withdrawals for the week to 70 billion yuan.
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