China’s central bank conducts ¥32 billion reverse repos to sustain liquidity
China’s central bank conducted ¥32 billion (about $4.51 billion) of seven-day reverse repos at an interest rate of 1.8 per cent on Monday.
The move was to keep liquidity in the banking system reasonable and ample, the People’s Bank of China said in a statement.
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.
(Xinhua/NAN)
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