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China's central bank conducts reverse repos Wednesday

BEIJING
2024-07-24 10:23

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BEIJING, July 24 (Xinhua) -- China's central bank conducted 66.1 billion yuan (about 9.26 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.7 percent Wednesday.

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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