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China's central bank conducts 100 bln yuan of reverse repos

2021-11-10 10:57

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BEIJING, Nov. 10 (Xinhua) -- China's central bank Wednesday injected 100 billion yuan (about 15.6 billion U.S. dollars) into the financial system via reverse repos.

The interest rate for the seven-day reverse repos was set at 2.2 percent, according to the People's Bank of China.

The move aims to maintain liquidity "at a reasonable and abundant level", 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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