China’s central bank injects 1.7 trillion Yuan to generate currency pressure
Dec 30 (Reuters) – The People’s Bank of China (PBOC) drained a net 245 billion yuan ($35.29 billion) from the banking system this week via open market operations, according to Reuters calculations.
The PBOC has injected 1,727.2 billion yuan on a net basis into money markets so far this year. The outstanding balance of the open market operations stood at 1,315 billion yuan at end-December.
The central bank injected a net 10 billion yuan in 2015.
For a table on the PBOC’s open market operations in 2015, click: