China's central bank conducts reverse repos Monday
Xinhua |
Updated: 2024-08-19 13:32
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BEIJING - China's central bank conducted 52.1 billion yuan ($7.3 billion) of seven-day reverse repos at an interest rate of 1.7 percent Monday.
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.
