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china-flagSHANGHAI: China's central bank auctioned 50 billion yuan ($7.99 billion) of three-month finance ministry deposits to commercial banks on Thursday at a rate of 4.00 percent, traders said.

 

Banks will bid for the right to take the deposits.

 

The sale, like previous such exercises, is part of the finance ministry's cash management programme.

 

Copyright Reuters, 2012

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