China's central bank conducts 30 bln yuan of reverse repos
Source: Xinhua | 2021-07-30
China's central bank Friday conducted 30 billion yuan (4.64 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.
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