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The People’s Bank of China injects 90 billion yuan liquidity to the banking system via 7-day reverse repo on Friday, while 2 billion yuan reverse repo expires, leaving a net 88 billion yuan injection.
For the week, the central bank injected 850 yuan via 7-day reverse repo, while 10 billion yuan reverse repo expires, leaving a net 840 billion yuan injection.
The PBOC cut the yuan’s fixing by 128 pips to 7.1689 per US dollar on Friday, compared to a fixing of 7.1570 one day earlier.
The onshore yuan closed the domestic trading session on Thursday at 7.2081 per dollar and ended the night session at 7.2240 per dollar.