PBOC drains 19 bn yuan liquidity from banking system, raises yuan’s fixing to 7.1451 per dollar

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The People’s Bank of China injects 14 billion yuan liquidity to the banking system via 7-day reverse repo on Monday, while 33 billion yuan reverse repo expires, leaving a net 19 billion yuan liquidity drained from the market. 

The PBOC raised the yuan’s fixing by 5 pips to 7.1451 per US dollar on Monday, compared to a fixing of 7.1456 in the previous trading day.