PBOC drains 36 bn yuan liquidity from market, raised yuan’s fixing by 7.1283 per dollar
FOREX POLICY & REGULATION
PBOC drains 36 bn yuan liquidity from market, raised yuan’s fixing by 7.1283 per dollar
FOREX POLICY & REGULATION

PBOC drains 36 bn yuan liquidity from market, raised yuan’s fixing by 7.1283 per dollar

 

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The People’s Bank of China injects 8 billion yuan liquidity to the banking system via 7-day reverse repo on Tuesday, while 44 billion yuan reverse repo expires, leaving a net 36 billion yuan liquidity drained from the market. 

The central bank raised the yuan’s fixing by 22 pips to 7.1283 per US dollar on Tuesday, compared to a fixing of 7.1305 per US dollar one day earlier.