China's central bank conducts 10b yuan of reverse repos
Xinhua |
Updated: 2021-10-19 11:06
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BEIJING -- China's central bank Tuesday conducted 10 billion yuan ($1.56 billion) of reverse repos to maintain reasonably ample liquidity in the banking system.
The interest rate for the seven-day reverse repos was set at 2.2 percent, according to the People's Bank of China.
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.
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