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China's central bank conducts 30 bln yuan of reverse repos

2021-06-28 09:55

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BEIJING, June 28 (Xinhua) -- China's central bank Monday conducted 30 billion yuan (about 4.65 billion U.S. dollars) of reverse repos to maintain stable 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.

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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