Tax-exempt money market funds fell by $6.96 billion to end the week of April 20 with $474.51 billion in total assets, according to the Money Fund Report, a service of iMoneyNet.com.

The seven-day simple yield for the 508 tax-exempt funds in the report this week rose by just one basis point to 0.31%, while the average maturity decreased by one day to 24 days.

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