The People’s Bank of China (PBOC) raised the yuan’s daily fixing by 104 pips to 7.0998 per US dollar on Friday, compared to a fixing of 7.1102 one day earlier.
The central bank injects 128 billion yuan liquidity to the banking system via 7-day reverse repo and injects another 58 billion yuan liquidity via 14-day reverse repo on Thursday, while 2 billion yuan reverse repo expires, leaving a net 184 billion yuan injection.
For the week, the PBOC injected a net 868 billion yuan liquidity to the banking system in open market operations, the highest one-week volume in more than 32 months.