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CBA Lowers Deposit Rate of Some Foreign Currencies in Small Sum
Referring to the rate fluctuation of international market, China Banking Association (CBA) lowered the deposit rate of US dollar, British pound and Hongkong dollar in small sum from December 23, 2000. The one-year deposit rates of the three mentioned currencies are 5.0000 percent, 4.6875 percent, 4.9375 percent now, 0.5000 percent, 0.5625 and 0.3750 percent less respectively than the former ones.
This adjustment was made in light of the international rate change and the capital cost of Chinese commercial banks. It indicated that Chinese foreign currency rate would adapt to the international development gradually. (Panorama)
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