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PBOC drains 66b yuan in open market operation

(Agencies)
Updated: 2008-04-17 15:17

The People's Bank of China (PBOC) said it drained 66 billion yuan (about $9.43 billion) from the banking system via the sale of three-year bank bills in open market operations today.

The central bank said in a statement on its website that the yield on the paper was set at 4.56 percent, unchanged from the auction result last Thursday.

The central bank also sold 42 billion yuan of three-month central bank bills to yield 3.3978 percent, unchanged from the last similar auction.

The bank also drained 49 billion yuan out of the banking system via 28-day repos at 3.2 percent.

The central bank carries out regular open-market operations on Tuesdays and Thursdays.