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China's central bank conducts reverse repos Monday(Xinhua) 10:34, August 05, 2024
BEIJING, Aug. 5 (Xinhua) -- China's central bank conducted 670 million yuan (about 94 million U.S. dollars) 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.
(Web editor: Chang Sha, Liang Jun)
