Caixin
Nov 01, 2018 08:40 PM
ECONOMY

Central Bank Steps Up Measures to Defend Yuan

The central bank's debt sale in Hong Kong will be its second ever offshore bill issuance. Photo: VCG
The central bank's debt sale in Hong Kong will be its second ever offshore bill issuance. Photo: VCG

China’s central bank will sell bills in Hong Kong next week, its first debt issuance in the city and a signal policymakers are stepping up efforts to support the depreciating yuan in the offshore market.

The People’s Bank of China (PBOC) said (link in Chinese) on Wednesday it would raise 20 billion yuan ($2.87 billion) in Hong Kong on Nov. 7 through the sale of 10 billion yuan of three-month bills and 10 billion yuan of one-year bills.

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