Extra on PBOC set to challenge a document quantity of offshore yuan payments in Hong Kong

I posted on this again on Monday this week:

• PBOC is ready to challenge a document quantity of offshore yuan payments in Hong Kong this month
• aiming to stabilize the yuan’s trade charge amid rising pressures. Issuing offshore yuan payments is a method for absorbing extra liquidity within the offshore market, lowering downward strain on the forex.

The information continues to be being popped up across the place.

Wall Avenue Journal now, citing Goldman Sachs:

• China to Challenge Central Financial institution Payments in Hong Kong Amid Weakening Yuan
• tender of 60 billion yuan, equal to $eight.18 billion, of six-month payments to be held on Jan. 15 for settlement on Jan. 17
• deliberate issuance of a considerable amount of central financial institution payments in Hong Kong ought to drain offshore-yuan liquidity and discourage offshore-yuan brief positions, mentioned Goldman Sachs’ Economics Analysis crew.

I suppose the brand new bit is the affirmation of the quantity, 60bn yuan. A document quantity. However we already knew it might be the biggest ever, see my submit linked above.

Guess it pays to learn ForexLive.

Our correspondent in Beijing 😉

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



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