China's cen­tral bank in­jects 10 bil­lion yuan into sys­tem

The Pak Banker - - COMPANIES/BOSS -

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.

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