PBOC cut yuan’s fixing to 7.0560 per dollar, injects zero net liquidity via open market operation
FOREX POLICY & REGULATION
PBOC cut yuan’s fixing to 7.0560 per dollar, injects zero net liquidity via open market operation
FOREX POLICY & REGULATION

PBOC cut yuan’s fixing to 7.0560 per dollar, injects zero net liquidity via open market operation

 

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The People’s bank of China slashed yuan’s fixing by 234 pips to 7.0560 per US dollar on Wednesday, compared to a fixing of 7.0326 one day earlier.

The PBOC injects 2 billion yuan liquidity to the banking system via 7-day reverse repo on Wednesday, while 2 billion yuan reverse repo expires, leaving a net zero injection.