China injects 50 bln RMB into market

(Xinhua)    16:43, September 22, 2015

Email|Print

0

(File photo)

BEIJING, Sept. 22  -- China's central bank pumped 50 billion yuan (7.85 billion U.S. dollars) into the money market via reverse repurchase agreement (repo) on Tuesday, the first cash injection this week.

The yield for the seven-day reverse repo stood at 2.35 percent, according to a statement of the People's Bank of China (PBOC).

Under a reverse repo, the central bank purchases securities from large banks and brokerages with the agreement to sell them in the future as an effective means to tackle short-term money shortages in the market.

The cash injection will offset the effects from earlier reverse repo due on Tuesday.

Given a stable renminbi (RMB), the money shortage was greatly eased in September and the PBOC's operations were smaller than those in August.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Jin Chen,Yao Chun)

Add your comment

Related reading

• Interview: China drives fundamental shift in Australia's tourism
• China remains as the largest gold trading market
• Chinese rider wins barrel racing in equestrian invitational
• China developing new generation supercomputer
• China on yellow alert for high temperatures
• Chinese currency's inclusion into SDR basket helps advance reform of international financial system: experts
• China's opera "The Grand Canal" staged in Rome
• China's Che/Jiang win table tennis women's doubles at Universiade
• China beats Japan 3-1 to claim FIVB World Grand Prix title
• China, U.S. to work together to help build African CDC: official

We Recommend