(Yicai Global) Nov. 17 -- China's central bank, the People's Bank of China (PBOC), pulled a net CNY10 billion (USD 1.51 billion) out of the financial system via an open market operation today, ending a continuing injection for five straight days.
PBOC conducted a seven-day reverse repurchase of CNY10 billion today, with a 14-day reverse repo of CNY10 billion and a 63-day reverse repo of 10 billion, against the maturing of a CNY40-billion previous reverse repo.
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 6.20 basis points down to 2.7380 percent, rising for three days in a row.
The SHIBOR for one-week loans dropped 2.10 basis points to 2.8650, while the three-month term rate rose another 3.60 basis points to 4.6016.