Press "Enter" to skip to content

PBOC to issue 30 billion yuan bills in Hong Kong

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

The People’s Bank of China said on Wednesday that it’s selling more yuan-denominated bills in Hong Kong, which should tighten yuan’s liquidity in the offshore market and raise cost for shorting the currency.

The central bank will sell 30 billion yuan ($4.35 billion) worth of bills in Hong Kong on June 26, through 20 billion yuan of one-month bills and 10 billion yuan of six-month bills, according to a statement.

The sale would be the biggest since PBOC issued the first bills of this kind in Hong Kong in November. The central bank has performed similar issuances three times before, to a total amount of 60 billion yuan.

The yuan has fallen sharply against the dollar since April and is now hovering close to the key psychological barrier of 7 yuan per dollar.

Related Post

China’s credit growth slowed sharply amid tr... China's credit growth slowed across the board in July, with banks granting sharply fewer new loans, while money supply and total social financing also...
China approved American Express to clear card paym... American Express just became the first US credit card company to get the green light to start building its own payments network in China as Beijing ...
China’s foreign exchange reserves fell in Ju... China’s foreign exchange reserves fell $15.54 billion in July to $3.104 trillion, ending a two-month gaining streak, according to data released by the...
PBOC injected 560 billion yuan this week via open ... Chinese central bank has used open-market operations to inject the largest amount of liquidity to the banking system since January so far this week, ...
PBOC cut rate on targeted MLF loans by 20 bp in la... China’s central bank rolled over some of the targeted funds due on Friday while cutting interest rates on the loans, its latest move to ensure suffic...

One Comment

Comments are closed, but <a href="https://www.yuantalks.com/pboc-to-issue-yuan-bills-in-hong-kong-again/trackback/" title="Trackback URL for this post">trackbacks</a> and pingbacks are open.

Top