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Source: المشهد العربي
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The Chinese stocks experienced a significant rise following the People's Bank of China's decision to keep interest rates unchanged for the fifth consecutive month. The one-year lending rate remained at 3%, while the five-year rate held steady at 3.50%. The bank also supported the yuan by setting the official exchange rate at 6.7808 to the dollar, despite it being higher than the previous session, reflecting a policy aimed at controlling the value of the local currency.
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