PBoC issues 20 billion yuan of central bank bills in Hong Kong

Bills could be used to manage offshore yuan liquidity and stabilise exchange rates

Hong Kong
Hong Kong: lower coupon rates reflect comfortable liquidity in offshore yuan market

China’s central bank sold 20 million yuan ($3 billion) of bills using the Hong Kong Monetary Authority’s bond-tendering platform on February 13, with rates significantly lower than those of its last offshore issuance – a sign of ample yuan liquidity.

The People’s Bank of China (PBoC) sold 10 billion yuan of three-month bills at 2.45% and 10 billion yuan of one-year bills at 2.8%, according to a statement on the central bank’s website. The rates were notably lower than the 3.79% and 4.2%

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