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PBOC Injects $19 Billion via Weekly Auctions, Most in 18 Months

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The People’s Bank of China tripled the amount of cash added to the financial system in its open-market operations, helping to ensure an adequate supply of funds as it supports the yuan following last week’s devaluation.

The central bank conducted 120 billion yuan ($18.8 billion) of seven-day reverse-repurchase agreements, up from 40 billion yuan on Thursday, according to a statement on its website. That compares with 50 billion yuan of contracts that matured Tuesday and was the largest offering of reverse repos since late January