The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here.
PBOC says it injected 1 bn yuan in 7-day reverse repos in Open Market Operations today. Rate remains 1.4%.
- 134bn of 7-day reverse repos matured
- Net withdrawal of 133bn.
For the week in total:
- injected CNY176.5bn of 7-day reverse repos, 300bn of overnight reverse repos and 500bn of buyout-style reverse repos
- 116.5bn of 7-day and 900bn of overnight reverse repos matured
- thus a net withdrawal of 1,225.5bn for the week
This article was written by Eamonn Sheridan at investinglive.com.
