Markets

PBOC to drain 20bn yuan via 28-day repos

Published July 8, 2014 Updated July 8, 2014 04:43am

1 min

By Shoaib Ur Rehman

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SHANGHAI: China's central bank will drain 20 billion yuan ($3.22 billion)from the money markets through 28-day bond repurchase agreements on Tuesday, traders said.

Maturing repos will inject a net 80 billion yuan into the banking system this week.

The People's Bank of China (PBOC) conducted a net injection of 55 billion yuan into the banking system last week.

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