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China's foreign exchange reserves reached US$242.76 billion by the end of June this year, up 34.2 percent over a year earlier, according to statistics released by the People's Bank of China, the central bank, on Thursday.
The growth rate was 20 percentage points higher over a year ago.
The exchange rate of Renminbi, the Chinese currency, remains stable. It stood at one U.S. dollar for 8.2771 RMB yuan at the endof June, basically keeping the level at the end of last year.
(Xinhua News Agency July 12, 2002)
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