off-the-wire

China cbank makes biggest weekly cash withdrawal since Jan

Kitco Media
By Reuters
Published:
Updated:
Reuters
SHANGHAI/SINGAPORE, April 7 (Reuters) - China's central bank made its biggest weekly cash withdrawal in three months this week, as month-end liquidity tensions eased. The People's Bank of China (PBOC) injected 17 billion yuan ($2.47 billion) through seven-day reverse repurchase agreements via open market operations on Friday.


With 189 billion yuan worth of such short-term bond instruments due on Friday, the central bank drained a net 172 billion yuan on the day.


And the PBOC drained 1.132 trillion yuan on a net basis for the week, the biggest cash withdrawal since early January.
($1 = 6.8750 Chinese yuan)
(Reporting by Winni Zhou and Tom Westbrook; Editing by Muralikumar Anantharaman)

Messaging: winni.zhou.thomsonreuters.com@reuters.net))
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