Advertisements

PBoC Adjusts Yuan Rate and Injects Liquidity into Banking System

by Elena

On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session at 7.0531, an improvement from the previous day’s fix of 7.0644 and slightly above the Reuters estimate of 7.0518.

In a move to bolster the banking system, the PBoC injected 74.5 billion Yuan through a 14-day reverse repurchase agreement, lowering the rate from 1.95% to 1.85%. Additionally, the central bank provided 160.1 billion Yuan through a 7-day reverse repo, maintaining the rate at 1.7%.

Advertisements

Related Topics:

Advertisements
Advertisements

You may also like

blank

MydayFinance (www.mydayfinance.com) is a comprehensive foreign exchange industry website, providing global users with 24-hour comprehensive and timely foreign exchange market information, foreign exchange rate real-time query, foreign exchange rate conversion and other content.【Contact us: [email protected]

© 2024 Copyright  mydayfinance.com