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November 22, 2024
Abstract : China's central bank conducted 635.1 billion yuan (about 88.28 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.5 percent Friday.
BEIJING, Nov. 22 (Xinhua) -- China's central bank conducted 635.1 billion yuan (about 88.28 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.5 percent Friday.
The move aims to keep liquidity in the banking system adequate at a reasonable level, 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: central bank reverse repos
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