People's Bank of China skips OMOs today
- none maturing either (thus OMOs neutral today)
- For the week, net 410bn yuan injection via OMOs
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PBOC purchased net 7.42 billion yuan of forex in April
- followed a rise of 7.84 billion yuan recorded in March
The PBOC purchases foreign currency generated by China's trade surplus and foreign investment in the country
- an important indicator of cross-border foreign capital flows and domestic yuan liquidity
- An increase in the funds usually signals eased capital flight pressure