China's central bank injects 10 billion yuan into system
China's central bank injected an additional 10 billion yuan ($ 1.5 billion) in short-term loans into the banking system Wednesday, in a move aimed at ensuring liquidity after the Lunar New Year.
The People's Bank of China pumped 10 billion yuan of seven- day reverse repurchase agreements into the money market, its third such operation this week.
It injected a total of 40 billion yuan via similar tools in the previous two days. A net of 595 billion yuan worth of reserve repos will mature this week, according to Wind Information.
In addition, China's central bank set the yuan weaker Wednesday, shifting the daily U. S. dollar- yuan benchmark upward to 6.5237 from yesterday's 6.5130, representing a 0.16% depreciation of the yuan.