MARKET HEADLINES Rupee falls for third week; future of flows keyThe rupee weakened on Friday, falling 1.3 percent for the week,extending its losing streak to a third successive week, hurt by concernsabout a possible pullback in global fund flows and the countrysexternal deficit.The rupee found support from the central banks plan to ease hedgingrules for exporters and importers, a move which is expected toincrease supply of dollars.The rupee ended at 55.63/64 versus its close at 55.59/60 on Thursday,falling for a sixth successive session. It is also the rupees longestweekly losing streak since late November. Yuan ends up after hitting new high, buoyed byrecord midpoint fixThe central bank fixed a record high midpoint for the yuan onFriday despite the dollars overnight rally, allowing the spot market topush it to a new high, which some traders said could signal aquickening pace of reforms for the currency regime.Spot yuan changed hands at 6.1276 against the dollar in late morningTrade, its highest since China established the domestic foreignexchange market in 1994.It eased slightly to close at 6.1316, still up from 6.1340 at Thursdaysclose. Yuan down slightly, weak survey might impactappreciation trendChinas yuan, which hit record highs the past two days, closed slightlylower against the dollar on Thursday after the central bank signalled apause in moves encouraging appreciation for the currency.Spot yuan closed at 6.1340 against the dollar, down from 6.1311 at theend of Wednesday trading.Before Thursday trade began, the Peoples Bank of China (PBOC)fixed the yuans midpoint at 6.1947, a little weaker than Wednesdaysrecord high midpoint of 6.1904. The yuan is allowed to rise or fall 1percent in a day from the central banks base rate.
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