Banking

China 6-month finance ministry deposits sold at 4.93%

(Agencies)
Updated: 2010-11-24 11:16

SHANGHAI - China's central bank auctioned 40 billion yuan of six-month finance ministry deposits to commercial banks on Tuesday at a rate of 4.93 percent, traders said.

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The result is up from 4.70 percent for deposits with the same tenor auctioned on Oct 21.

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.