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China's central bank adds liquidity via reverse repos

BEIJING
2023-12-27 10:52

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BEIJING, Dec. 27 (Xinhua) -- China's central bank conducted 421 billion yuan (about 59.29 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Wednesday.

The move aims to keep liquidity reasonable and ample at the end of the year, 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.
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