The People’s Bank of China (PBOC) raised the Chinese yuan’s daily fixing by 731 pips to 6.6756 per US dollar on Monday, compared to a fixing of 6.7487 in the previous trading day.
The PBOC injects 10 billion yuan liquidity to the banking system via 7-day reverse repo on the day, while 10 billion yuan reverse repo expires, leaving a net zero injection.