CNY mid rate against the USD from the PBOC today. A much weaker yuan.

And, for open market operations:

  • To inject 30 bn yuan through 7-day reverse repos
  • To inject 160 bn yuan through 14-day reverse repos
  • To inject 100 bn yuan through 28-day reverse repos

After accounting for RRs maturing today that's a net injection of 250bn yuan from the Bank. I posted a few minutes ago on potential liquidity stress for China in coming weeks ... PBOC stepping up already.

For the week, net injection of 410bn yuan (10bn yuan drain the previous week)

  • Largest since the middle of January this year