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🇨🇳#PBOC conducts 4.5 billion yuan of 7-day Reverse Repo on Friday, draining 14.8 billion yuan into the open market as 19.3 bln yuan due. *The central bank has drained 260 billion yuan this week. #China #liquidity $USDCNH $SHCOMP https://t.co/2v0CphyECn https://t.co/9ToWysCseo https://t.co/EJZBCs6LrL
PBOC REMOVES 14.8 BILLION YUAN THROUGH OPEN MARKET OPERATIONS
CHINA CENTRAL BANK INJECTS 4.5 BILLION YUAN THROUGH 7-DAY REVERSE REPOS AT 1.50%: STATEMENT
The People's Bank of China (PBOC) set the USD/CNY reference rate at 7.1886 for January 9, 2025, lower than the Reuters estimate of 7.3159. The previous close was 7.3317. On January 10, the PBOC set the reference rate at 7.1891, again below the estimate of 7.3138, with the last close at 7.3322. In addition to the reference rate adjustments, the PBOC injected 4.1 billion yuan through 7-day reverse repos at a rate of 1.50% on January 9 and 4.5 billion yuan on January 10, while also conducting open market operations that drained a total of 260 billion yuan over the week.
