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Yuan set to slow its rise this year
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The yuan is expected to slow down its appreciation later this year.

The Chinese currency finished at 6.9935 to the US dollar on Friday, up from a week earlier's 7.0115, according to China Foreign Exchange Trade System.

The yuan's fall last Friday was the first time in five days and on the same day China's stocks headed for a record weekly loss on concern measures to curb inflation will hurt economic growth.

China said on Wednesday that it will ask commercial banks to freeze more money from lending by raising the reserve requirement ratio to 16 percent from Friday.

The measure was announced just after the country posted a March inflation of 8.3 percent.

(Shanghai Daily April 21, 2008)

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