It has been recently reported that on Wednesday, the central bank of China had to pump up to 10 billion Yuan or $1.5 billion right in short-term loans. The major purpose of that move was reportedly ensuring sufficient liquidity after the newly passed Lunar New Year.
To be exact the country’s central bank, officially dubbed the People’s Bank of China, injected about 10 billion Yuan of seven-day reverse repurchasing agreements into the financial market, thus performing the third operation this week.
The country’s major financial body also pumped approximately 40 billion Yuan in similar two days ago. Wind Information gives an emphasis to the fact that this week a net of billion Yuan actually worth of reserve repos are going to mature.
Apart from that, on Wednesday, the country’s central banks weakened the Yuan, thus shifting the daily greenback-yuan benchmark higher to 6.5237 from yesterday’s value 6.5130. That was a 0.16% sag of the Yuan. As for Wednesday’s adjustment of the major Chinese currency, it appeared to be the second in a row, which weakened the Yuan.