(Yicai Global) Nov. 16 -- China's central bank, the People's Bank of China (PBOC), injected a net CNY187.5 billion (USD28.26 billion) into the financial system via an open market operation today in line with its practice over the last 5 days to relieve currency pressure.
PBOC conducted a seven-day reverse repurchase of CNY160 billion today, with a 14-day reverse repo of CNY140 billion and a 63-day reverse repo of 30 billion, against the maturing of a CNY20-billion previous reverse repo and a CNY122.5-billion medium-term lending facility (MLF).
The seven-day reverse repo bid rate was 2.45 percent, while the 14-day rate was offered at 2.60 percent and the 63-day rate was set at 2.90 percent, all unchanged from the previous open market operation.
The overnight Shanghai Interbank Offered Rate (SHIBOR) was 0.60 basis points down to 2.8000 percent, following another paring over 2.10 basis points yesterday.
The SHIBOR for one-week loans remained unchanged at 2.8860, while the three-month term rate rose 2.01 basis points to 4.5656.Keywords: pboc, open market operation, Injection, Reverse Repo, Shibor, MLF