SHANGHAI--China's central bank offered 30 billion yuan ($4.9 billion) worth of 14-day repurchase agreements in Tuesday's open-market operations, participating traders said.
The central bank will likely continue to net drain liquidity from the market this week if it continues to offer repos in Thursday's operation, as only a total of 30 billion yuan of repos will mature this week. It drained a net of CNY11 billion in last week's operations, after adding liquidity into the financial system for 11 weeks in a row.
The PBOC carries out open-market operations Tuesdays and Thursdays, offering bills and repurchase agreements to control liquidity.
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(END) Dow Jones Newswires
August 04, 2014 22:35 ET (02:35 GMT)
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