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China's central bank will not allow a significant decline of the yuan and has urged major state-owned banks to scale back U.S. dollar purchases.

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China's central bank will not allow a significant decline of the yuan and has urged major state-owned banks to scale back U.S. dollar purchases. The order from Chinese officials comes as the yuan ...

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(Reuters) - China's central bank will not allow sharp yuan declines and has asked major state-owned banks to reduce U.S. dollar purchases, people with direct knowledge of the matter said on Wednesday.