Briefly

PBOC adds liquidity via reverse repos, MLF

China's central bank injected liquidity into the banking system through reverse repos and a medium-term lending facility on Friday. The People's Bank of China conducted 13 billion yuan ($1.83 billion) of seven-day reverse repos at an interest rate of 1.8 percent. It also injected a total of 387 billion yuan into the market via MLF that will mature in one year at an interest rate of 2.5 percent.

Renminbi weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 1 pip to 7.0975 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. The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Xinhua - China Daily