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PBOC sold 20 billion yuan bills in Hong Kong amid rising expectation for weaker yuan

The People’s Bank of China sold 20 billion yuan bills in Hong Kong on Wednesday, its third sale of offshore yuan-denominated bonds in the offshore market.

The central bank sold 10 billion yuan three-month tranche at a coupon of 3 per cent, while a one-year tranche worth 10 billion yuan was sold at a coupon of 3.1 per cent, the PBOC said in a statement.

Bids exceeded 100 billion yuan, and investors included commercial banks, investment banks, central banks, funds and international financing institutions, the PBOC said . . .

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