Facebook Twitter 新浪微博 Instagram YouTube Wednesday, Jun 8, 2016

Central bank drains 40 bln yuan from market

(Xinhua)    16:16, June 08, 2016

BEIJING, June 8 -- The central bank on Wednesday allowed 40 billion yuan (6.1 billion U.S. dollars) to drain from the market.

The People's Bank of China (PBOC) put 55 billion yuan into seven-day reverse repos, a process by which central banks purchase securities from banks with an agreement to sell them back in the future.

The reverse repos were priced to yield 2.25 percent, according to a PBOC statement.

Reverse repos worth 95 billion yuan matured on Wednesday, so the central bank has effectively drained 40 billion yuan from the market.

On Wednesday's interbank market, the benchmark overnight Shanghai Interbank Offered Rate (Shibor) rose to 2 percent.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Ma Xiaochun,Bianji)

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