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China central bank drains 29 bln yuan via paper sale

Wednesday, January 23, 2008

BEIJING (XFN-ASIA) - The People's Bank of China (PBoC) said it drained 9 bln yuan from the banking system via the sale of three-year bank bills in open market operations today.

The bank said in a statement on its website that the yield on the paper stood at 4.56 pct, unchanged from last week.

A further 20 bln yuan worth of three-month central bank bills yielded 3.4071 pct, also unchanged from last week.

The bank also drained 22 bln yuan out of the banking system via seven-day repos and 12 bln via 28-day repos.

The central bank carries out regular open-market operations on Tuesdays and Thursdays.

(1 usd = 7.3 yuan)

Posted by MOHAMED SAID at 7:56 PM  


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