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

Source: Xinhua| 2021-07-06 12:38:34|Editor: huaxia

BEIJING, July 6 (Xinhua) -- China's central bank Tuesday conducted 10 billion yuan (about 1.55 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.

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. Enditem

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