The People's Bank of China (PBOC) sold its first yuan-denominated bills in Hong Kong on Wednesday, raising 20 billion yuan and giving it a new tool to manage the currency in offshore markets as it faces further pressure.
A 10 billion yuan three-month tranche was priced at a coupon of 3.79 per cent, while a one-year tranche, also worth 10 billion yuan, came in with a coupon of 4.20 per cent, the PBOC said in a statement.
To continue reading, please subscribe.
We highly value independence. Yuan Talks is solely funded by subscriptions from thousands of intelligent readers like you.
What you'll get:
- Systematic, timely and data-driven reporting on China's economy and financial markets with details, data and perspectives you don't read elsewhere!
- Daily Brief newsletter delivered before market open every weekday wrapping up the most important China-related stories.
- Weekly Market Wrap-up on A shares, Chinese bonds, the Yuan and commodities!
- Interviews with China experts. We find you insights you should never miss!
- Conference calls and events. Nothing is better than talking to newsmakers, experts and reporters directly, right?
Already have an account? Sign In