PBOC to drain 83b yuan via 28-day repos
Updated: 2011-08-09 10:37
(Agencies)
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SHANGHAI - China's central bank will drain 83 billion yuan ($12.9 billion) from the money markets through 28-day bond repurchase agreements on Tuesday, traders said, the highest level since early June, Reuters reported.
A total of 192 billion yuan in central bank bills and repos are due to mature this week. The People's Bank of China (PBOC)?conducted a net injection of 44 billion yuan into the banking system last week.
PBOC will also mop up 2 billion yuan by selling one-year bills on Tuesday, up from 1 billion yuan of such bills sold last week.
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