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7 months ago
PBOC to inject 50 bln yuan via reverse repos - traders
February 3, 2017 / 1:35 AM / 7 months ago

PBOC to inject 50 bln yuan via reverse repos - traders

SHANGHAI (Reuters) - China's central bank will inject 20 billion yuan ($2.91 billion) into money markets on Friday through seven-day reverse bond repurchase agreements, 10 billion yuan through 14-day reverse repos, and an additional 20 billion yuan through 28-day reverse repos, traders said.

The People's Bank of China (PBOC) drained a net 250 billion yuan last week.

In early trade on Friday, the volume weighted average of the seven-day repo rate CN7DRP=CFXS was at 2.25 percent, down 38.85 basis points from the previous closing average rate.

Reporting by the Shanghai Newsroom; Editing by Sherry Jacob-Phillips

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