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China's central bank conducts 10 bln yuan of reverse repos

2021-04-22 11:01

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BEIJING, April 22 (Xinhua) -- China's central bank Thursday conducted 10 billion yuan (about 1.5 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.

With 10 billion yuan of reverse repos maturing on the same day, the move led to a zero liquidity injection into the market.

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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