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
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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