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PBC to issue RMB 30 billion offshore central bank bill in Hong Kong

2019-08-07 14:14:17  【Print】
On 6 August, the People's Bank of China (PBC) decided to issue two offshore Yuan central bank bills worth RMB30 billion (USD4.Asian Metal CopyrightS.Asian Metal Copyright26 billion) in Hong Kong on 14 August, consisting of a three-month central bank bill worth RMB20 billion (USD2.Asian Metal Copyright Under such circumstance, the exchange rates of many currencies against U.Asian Metal Copyright84 billion) and an one-year central bank bill worth RMB10 billion (USD1.Asian Metal Copyrightm.Asian Metal Copyright42 billion).

Affected by this news, the exchange rates of both onshore and offshore Yuan rebounded. Up to 8p.Asian Metal Copyright dollar hovered at around 7.Asian Metal Copyrightm.Asian Metal Copyright On the evening of 5 August, PBC President Yi Gang noted that international economic situation and trade friction went through something new recently and the market expectation changed accordingly.Asian Metal Copyright of 6 August, the exchange rate of onshore Yuan against U.Asian Metal Copyright0458, up by 493 basis points from the previous trading day.Asian Metal CopyrightS.Asian Metal CopyrightOn 6 August, the People's Bank of China PBC decided to issue two offshore Yuan central bank bills worth RMB30 billion USD4.Asian Metal Copyright dollar hovered at around 7.Asian Metal CopyrightS.Asian Metal Copyright0180, up by 327 basis points from the previous trading day, and the exchange rate of offshore Yuan against U.Asian Metal Copyright dollar hovered at 7.Asian Metal CopyrightS.Asian Metal CopyrightS.Asian Metal Copyright dollar hovered at 7.Asian Metal Copyright0180, up by 327 basis points from the previous trading day, and the exchange rate of offshore Yuan against U.Asian Metal Copyright0458, up by 493 basis points from the previous trading day.

On 5 August, the exchange rates of both onshore Yuan and offshore Yuan were lower than 7 for the first time after the exchange rate reform on 11 August, 2015, which attracted high attention from the market. On the evening of 5 August, PBC President Yi Gang noted that international economic situation and trade friction went through something new recently and the market expectation changed accordingly.Asian Metal Copyright Up to 8p.Asian Metal Copyright Under such circumstance, the exchange rates of many currencies against U.Asian Metal CopyrightS.Asian Metal CopyrightS.Asian Metal CopyrightS.Asian Metal Copyright dollar depreciated in August and the exchange rate of Yuan was affected to some extent, which was driven and determined by the market.

In response to U.S decision on listing China as a currency manipulator, PBC made clear that this label goes against the so-called quantitative criteria for currency manipulator drawn up by U.Asian Metal Copyright .Asian Metal CopyrightS.Asian Metal Copyright Department of the Treasury, appears as a willful behavior of unilateralism and protectionism, severely violates international rules and will exert significant influences on global economy and finance.Asian Metal Copyright Department of the Treasury, appears as a willful behavior of unilateralism and protectionism, severely violates international rules and will exert significant influences on global economy and finance.Asian Metal Copyright Therefore, the exchange rate of Yuan is decided by market supply and demand and is not manipulated by the government.Asian Metal Copyright China's managed floating exchange rate system is based on market supply and demand and adjusted according to currency basket.Asian Metal Copyright42 billion.Asian Metal Copyright Therefore, the exchange rate of Yuan is decided by market supply and demand and is not manipulated by the government.

.Asian Metal Copyright On 5 August, the exchange rates of both onshore Yuan and offshore Yuan were lower than 7 for the first time after the exchange rate reform on 11 August, 2015, which attracted high attention from the market.Asian Metal Copyright