Oct 21 2024: The People’s Bank of China (PBOC) conducted its inaugural swap operation on Monday, involving securities, fund, and insurance companies for a total amount of 50 billion yuan ($7.03 billion).
According to the PBOC’s official statement, 20 institutions participated in the auction, with the fee rate set at 20 basis points.
(Exchange rate: $1 = 7.1111 Chinese yuan renminbi)
