PBOC injects net zero liquidity, slashed yuan’s fixing by 351 pips

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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 2 billion yuan reverse repo expires, leaving a net zero injection.

The PBOC slashed the yuan’s daily fixing by 351 pips to 6.7813 per US dollar on Wednesday, compared to a fixing of 6.7462 one day earlier.