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China's onshore dollar/yuan swap points surge to highest in nearly 3 years

SHANGHAI, Sept 25 (Reuters) - China’s onshore yuan forwards rose to the highest in nearly three years on Friday after news its government bonds would be included in FTSE Russell’s flagship World Government Bond Index (WGBI).

One-year onshore dollar/yuan swap points rose to 1,577 points, the highest since November 2017.

Traders said higher swap points reflect rising expectations for steady long-term foreign capital inflows into the world’s second-largest economy following the bond index inclusion. (Reporting by Winni Zhou and Andrew Galbraith; Editing by Himani Sarkar)

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