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Economy

China's central bank conducts 7 bln yuan of reverse repos

March 24, 2023


Abstract : The People's Bank of China on Friday conducted 7 billion yuan (about 1.02 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2 percent.

BEIJING, March 24 (Xinhua) -- The People's Bank of China on Friday conducted 7 billion yuan (about 1.02 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2 percent.

The move is aimed at keeping liquidity reasonable and ample in the banking system, according to the central bank.

A total of 180 billion yuan of reverse repos matured on the same day, resulting in a net withdrawal of 173 billion yuan from the financial system.

A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

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Keyword: reverse repos

Reading:

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China's central bank continues to add liquidity via reverse repos

【Financial Str. Release】China's central bank continues to add liquidity via reverse repos

China's central bank continues to add liquidity via reverse repos

China's central bank continues to add liquidity via reverse repos

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