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July 03, 2024
Abstract : China's central bank conducted two billion yuan (280.46 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Wednesday.
BEIJING, July 3 (Xinhua) -- China's central bank conducted two billion yuan (280.46 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Wednesday.
The move aims to keep liquidity reasonable and ample in the banking system, the central bank said.
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.
Keyword: liquidity China's central bank reverse repos Financial Str. Release
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