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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (714)9/15/2003 2:16:48 PM
From: RealMuLan  Read Replies (1) of 6370
 
Low rates, yuan talk dent China's forex savings
Reuters, 09.15.03, 6:20 AM ET

BEIJING, Sept 15 (Reuters) - China said on Monday personal foreign exchange savings fell in August, the second straight monthly decline, as lower deposit interest rates and expectations of a possible yuan rise dented people's appetite for dollars.

Personal hard currency savings at financial institutions, mainly banks, fell to $89.6 billion at the end of August from $90.5 billion at the end of July and $90.9 billion at the end of June, according to the central bank's data released.
forbes.com
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