Briefly

PBOC adds liquidity via reverse repos

The People's Bank of China, the central bank, continued to inject funds into the financial system through open market operations on Friday. The bank said on its website that it has conducted 835 billion yuan ($121.6 billion) of seven-day reverse repos at an interest rate of 2 percent. The move is aimed at keeping liquidity reasonable and ample in the banking system, according to the central bank.

Renminbi weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 140 pips to 6.8659 against the US dollar on Friday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

Xinhua - China Daily