People's Bank of China pumps $14.5 billion into market

People's Bank of China pumps $14.5 billion into market

The People's Bank of China (PBOC) conducted 95 billion yuan ($14.5 billion) in seven-day reverse repurchase agreements (repo), a process in which central banks purchase securities from banks with an agreement to resell them in the future.

The reverse repo was priced to yield 2.25%, unchanged from Thursday's injection of 75 billion yuan and Wednesday's 70 billion yuan, according to a PBOC statement.

The People’s Bank of China (PBOC) on Friday set the yuan reference point against the US dollar at 6.5490, 62 basis points stronger than on Thursday.

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