PBOC injects net zero liquidity, yuan’s fixing cut by 14 pips

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The People’s Bank of China (PBOC) injects 3 billion yuan liquidity to the banking system via 7-day reverse repurchase agreement on Wednesday, while 3 billion yuan reverse repurchase agreement expires, leaving a net zero injection.

The PBOC cut the yuan’s fixing by 14 pips to 6.7465 per US dollar on Wednesday, compared to a fixing of 6.7451 one day earlier.