The People's Bank of China will sell 30 billion yuan ($4.26 billion) of off...
FILE PHOTO: A woman walks past the headquarters of the People's Bank of China , the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee
HONG KONG/SHANGHAI - The People’s Bank of China will sell 30 billion yuan of offshore yuan-denominated bills in Hong Kong on August 14, it said on Tuesday.The issuance came after China let the yuan weaken past the key 7 per dollar level amid the escalating trade war with the United States, and after Washington labeled the country a currency manipulator on Monday.
Traders say the PBOC has at times in the past used issuance in Hong Kong as a way to mop up liquidity and support offshore yuan levels.was last seen at 7.0967 per dollar, after hitting record lows in early Asia trade.
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