China's central bank conducts reverse repos Tuesday
Xinhua |
Updated: 2024-12-03 10:51
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BEIJING -- China's central bank conducted 51.3 billion yuan ($7.1 billion) of seven-day reverse repos at an interest rate of 1.5 percent Tuesday.
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.
