PBOC drains net 212 bn yuan liquidity, yuan’s fixing recovers 7.2 mark
FOREX POLICY & REGULATION
PBOC drains net 212 bn yuan liquidity, yuan’s fixing recovers 7.2 mark
FOREX POLICY & REGULATION

PBOC drains net 212 bn yuan liquidity, yuan’s fixing recovers 7.2 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 Wednesday, while 214 billion yuan reverse repo expires, leaving a net 212 billion yuan drained from the market.

The yuan’s daily fixing recovers 7.2 per dollar mark.  The PBOC raised the yuan’s fixing by 78 pips to 7.1968 per US dollar on Wednesday, compared to a fixing of 7.2046 one day earlier.