• The PBoC made net FX purchases of -USD2.7bn in April, a sharp reversal from March’s USD3.7bn and turning negative for the first time since August 2021.
  • In other words, the PBoC net withdrew RMB17.6bn from the banking system in April through FX operations after making a net injection of RMB23.2bn in March.
  • China’s interbank system has been flush with liquidity over recent weeks, with the money market rate, DR007, averaging around 1.78% since the start of April.

By Stocks Future

Stocks Future - magazine version anglaise/english du magazine francophone ACTION FUTURE www.stocks-future.com www.action-future.com et www.actionfuture.fr www.laboutiquedutrader.com

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