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Interbank Turnover Reports Big Rise In May
Turnover on China's interbank money market amounted to 135.85 billion yuan in May, or an average 7.548 billion yuan for each of the month's 18 trading days, a 32. 93 percent rise over the previous month.
The total included 65.12 billion yuan for interbank lending, up 33.33 percent from 1999, 65.32 billion yuan in bond repurchase agreements, up 33.17 percent, and 5.4 billion yuan in spot bonds, up 27.73 percent.
The weighted average interbank lending rate and bond buyback rate were 2.406 percent and 2.408 percent in May, respectively, both seeing slight decline from the previous month.
Interbank lending was most active for seven-day and two-day items, with bond buyback most active in seven-day variety, which accounted for 61 percent of the transactions.
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