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September 25, 2024
Abstract : China's central bank conducted 196.5 billion yuan (about 27.99 billion U.S. dollars) of 14-day reverse repos at an interest rate of 1.85 percent Wednesday.
BEIJING, Sept. 25 (Xinhua) -- China's central bank conducted 196.5 billion yuan (about 27.99 billion U.S. dollars) of 14-day reverse repos at an interest rate of 1.85 percent Wednesday.
The move aims to keep liquidity reasonable and ample in the banking system at the end of the quarter, 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: China's central bank reverse repos
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