PBOC conducts 14-day reverse repo for first time since January, yuan fixing cut by 91 pips
STOCKS
PBOC conducts 14-day reverse repo for first time since January, yuan fixing cut by 91 pips
STOCKS

PBOC conducts 14-day reverse repo for first time since January, yuan fixing cut by 91 pips

 

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The People’s Bank of China injects 2 billion yuan liquidity to the banking system via 7-day reverse repo and another 10 billion yuan liquidity via 14-day reverse repo on Monday, at interest rates of 2% and 2.15%, respectively, unchanged from the rates in the previous operations.

It marks the first time for the central bank to conduct 14-day reverse repo since end of January this year.

The central bank cut the yuan’s fixing by 91 pips to 6.9396 per US dollar on Monday, compared to a fixing of 6.9305 in the previous trading day.