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

BEIJING
2022-03-03 12:41

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BEIJING, March 3 (Xinhua) -- China's central bank on Thursday conducted 10 billion yuan (1.6 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system.

The interest rate for the 7-day reverse repos was set at 2.1 percent, according to the People's Bank of China.

With 200 billion yuan of reverse repos maturing Thursday, this led to a net liquidity withdrawal of 190 billion yuan from 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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