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Finance

Yuan loans accelerate as currency weakens

HONG KONG -- Arthur Yuen, deputy chief executive of the Hong Kong Monetary Authority (HKMA), the special administrative region's de facto central bank, noticed that yuan loan growth in the city has accelerated in the past few months.

     The offshore yuan has experienced significant volatility since August when the People's Bank of China unexpectedly devalued the currency by 2% to ease its introduction into the International Monetary Fund's special drawing rights basket.

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