The Russian Central Bank has raised 3.04 trillion rubles at a one-week deposit auction, while also announcing a cut in the daily volume of foreign exchange swap operations to 5 billion yuan. In China, the People's Bank of China (PBOC) sold 697 billion yuan (approximately $97.2 billion) of seven-day reverse repos at an interest rate of 1.5%. Additionally, the PBOC reported a net drain of 716.5 billion yuan in its open market operations. These actions are part of broader efforts to manage liquidity in their respective banking systems, with Russia also planning to boost yuan sales by 17% to support the ruble.
In order to offset the impact of concentrated maturities of reverse repos in the open market and to keep liquidity in the banking system at an adequate level, the People's Bank of China (PBC), the country’s central bank, conducted 697 billion yuan ($97.2 billion) of seven-day… https://t.co/ohzmzedJBU
China's central bank conducts reverse repos Wednesday https://t.co/t5iiv7P9a7 https://t.co/OPKbScIIh9
Russia plans to boost yuan sales by 17% to support the rouble https://t.co/9DaN0Hmubb via @Reuters https://t.co/3VuT0hsXgL