People’s Bank of China injects 39 trillion yuan of liquidity,
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, ‘[Seoul=Newsis] Reporter Lee Jae-joon = Amid the overall depreciation of the yuan exchange rate this year, the People’s Bank of China announced on the 29th that it has adjusted the yuan’s reference rate against the dollar downward, taking into account domestic and external trends, speculation of interest rate cuts in the United States, fluctuations in the yen exchange rate, economic trends, and interest rate differentials.’,
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, ‘On that day, the People’s Bank of China set the yuan’s reference rate against the dollar at 1 dollar = 7.1299 yuan, down 0.0083 yuan or 0.12% from the previous day’s rate of 1 dollar = 7.1216 yuan.’,
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, ‘The yuan’s reference rate against the yen was set at 100 yen = 4.9386 yuan, up 0.0130 yuan or 0.26% from the previous day’s rate of 4.9516 yuan.’,
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, ‘The People’s Bank of China also announced the yuan’s reference rates for other major currencies as follows: 1 euro = 7.9318 yuan, 1 Hong Kong dollar = 0.91423 yuan, 1 British pound = 9.4054 yuan, 1 Swiss franc = 8.4737 yuan, 1 Australian dollar = 4.8372 yuan, 1 Singapore dollar = 5.4711 yuan, and 1 yuan = 187.42 won.’,
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, ‘In the Shanghai foreign exchange market, the yuan was trading at 1 dollar = 7.1298-7.1303 yuan and 100 yen = 4.9304-4.9307 yuan as of 10:11 am (Korean time 11:11 am).’,
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, ‘Earlier on the 29th, the yuan exchange rate closed at 1 dollar = 7.1290 yuan and 100 yen = 4.9401 yuan.’,
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, ‘Meanwhile, on the 29th, the People’s Bank of China conducted open market operations through reverse repurchase agreements, injecting 150.9 billion yuan (approximately 28.3 trillion won at an interest rate of 1.7%) in funds into the market.’,
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, ‘However, with the maturity of reverse repurchase agreements on that day amounting to 359.3 billion yuan, the actual liquidity injected was 208.4 billion yuan (39.79 trillion won).’,
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