Money

PBOC drains 80 billion yuan

(China Daily)
Updated: 2011-05-11 11:20

China's central bank drained 80 billion yuan ($12.3 billion) from the money markets through 28-day bond repurchase agreements on Tuesday, traders said.

A total of 198 billion yuan in central bank bills and repurchase agreements are due to mature this week. The People's Bank of China (PBOC) injected 67 billion yuan into the banking system last week.