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China's central bank adds liquidity via reverse repos

BEIJING
2024-06-03 10:58

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BEIJING, June 3 (Xinhua) -- China's central bank conducted 2 billion yuan (about 281.35 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 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.
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