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China state banks step up support for yuan, sell dollars onshore for 2nd day - traders
November 29, 2016 / 4:25 AM / 10 months ago

China state banks step up support for yuan, sell dollars onshore for 2nd day - traders

SHANGHAI, Nov 29 (Reuters) - Chinese state-owned banks were seen selling dollars in the onshore foreign exchange market for a second straight day on Tuesday, in what traders said appeared to be a bid to support the yuan currency after its recent slide to 8-1/2-year lows.

The yuan strengthened to 6.8922 per dollar as of 0413 GMT, 161 pips firmer than the previous late night close of 6.9083. (Reporting By Winni Zhou and John Ruwitch; Editing by Kim Coghill)

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