PBOC injects net 278 bn yuan liquidity on Wed, cut yuan’s fixing by 30 pips
STOCKS
PBOC injects net 278 bn yuan liquidity on Wed, cut yuan’s fixing by 30 pips
STOCKS

PBOC injects net 278 bn yuan liquidity on Wed, cut yuan’s fixing by 30 pips

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

The People’s Bank of China injects 280 billion yuan liquidity to the banking system via 7-day reverse repurchase agreement on Wednesday, while 2 billion yuan reverse repurchase agreement expires, leaving a net 278 billion yuan injection. 

The central bank injected a net 228 billion yuan injection on Tuesday and a net 8 billion yuan on Monday.

The PBOC raised the yuan’s fixing by 30 pips to 7.1638 per US dollar on the day, compared to a fixing of 7.1668 one day earlier. 

The onshore yuan closed the domestic trading session at 7.3085 per US dollar on Tuesday, weakening by 475 pips from one day earlier and hit a fresh trough since December 2007. The offshore yuan weakened fell to 7.3735 against the dollar, the weakest on record.