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China's central bank conducts reverse repos Tuesday

BEIJING
2024-07-23 15:20

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BEIJING, July 23 (Xinhua) -- China's central bank conducted 267.3 billion yuan (about 37.5 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.7 percent Tuesday.

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.
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