SHANGHAI, July 24: The volume-weighted average price (VWAP) for China’s benchmark seven-day bond repurchase agreement opened at 4.0100 percent on Wednesday, up slightly from the previous close of 4.0080 percent.
The opening VWAP rate was calculated based on the first three transactions recorded for that contract.
Market players are keeping a close eye on Chinese interbank market rates after tightness in the money markets in June caused a cash crunch for banks and sparked a slide in mainland stock indexes.
No central bank bills are scheduled to mature this week. The People’s Bank of China (PBOC) has injected a net 33 billion yuan ($5.38 billion) this year. ($1 = 6.1374 Chinese yuan)
(agencies)
Follow our WhatsApp channel