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China's central bank conducts 30 bln yuan of reverse repos

July 29, 2021 China.org.cn
Source: China.org.cn

BEIJING, July 29 (Xinhua) -- China's central bank Thursday conducted 30 billion yuan (4.62 billion U.S. dollars) 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 a statement on the website of 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.

Company — China
  • Full name
    Ministry of Finance of the People’s Republic of China
  • Registration country
    China