China's central bank on Monday allowed 180 billion yuan (around 27 billion U.S. dollars) to drain from the market.
The People's Bank of China (PBOC) put 90 billion yuan into seven-day reverse repos, a process by which central banks purchase securities from banks with an agreement to sell them back in the future, according to China's (Xinhua) News Agency.
The reverse repos were priced to yield 2.25%, according to a PBOC statement.
Reverse repos worth 270 billion yuan matured on Monday, so the central bank has effectively drained 180 billion yuan from the market.
On Monday's interbank market, the benchmark overnight Shanghai Interbank Offered Rate (Shibor) was 2.01%, down 1.3 basis points from the previous trading day.
GMT 00:06 2017 Friday ,17 November
Few banks seen queuing for China’s red carpet inviteGMT 21:04 2017 Sunday ,30 July
Egypt selected as one of “model” developing countriesGMT 12:13 2017 Monday ,15 May
China-led AIIB approves seven new membersGMT 00:38 2017 Sunday ,30 April
'China bails out cash-strapped Pakistan with $1.2b loan'GMT 21:50 2017 Saturday ,22 April
QNB: "Global Growth May Be Picking Up in 2017 but Recovery Could Be Short "Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor