PBOC drained net 3 bn yuan liquidity, yuan’s fixing recovers 7.2 per dollar mark
FOREX POLICY & REGULATION
PBOC drained net 3 bn yuan liquidity, yuan’s fixing recovers 7.2 per dollar mark
FOREX POLICY & REGULATION

PBOC drained net 3 bn yuan liquidity, yuan’s fixing recovers 7.2 per dollar mark

 

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The People’s Bank of China (PBOC) injects 2 billion yuan liquidity to the banking system via 7-day reverse repo on Monday, while 5 billion yuan reverse repo expires, leaving a net 3 billion yuan drained from the market. 

The central bank raised the yuan’s fixing by 128 pip to 7.1926 per US dollar on Monday, compared to a fixing of 7.2054 in the previous trading day.