The People’s Bank of China PBOC is issuing a tender of Rmb60 billion $8.2 billion worth of six-month bills in Hong Kong on January 15, for settlement on January 17, according to a PBOC announcement.
A total of Rmb60 billion six-month bills will be made available for competitive tender on a coupon bid basis by any qualified members of Hong Kong Monetary Authority's Central Moneymarkets Unit CMU through the CMU BID. The bills will be issued at par value in what will amount to the largest offshore Rmb auction on record and will boost demand for the currency to help bring stability.
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