China's central bank adds liquidity via reverse repos
Xinhua |
Updated: 2022-08-08 15:33
Share
Share - WeChat
BEIJING -- China's central bank on Monday conducted 2 billion yuan (about $295.44 million) of reverse repos to maintain liquidity in the banking system.
The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People's Bank of China.
The move aims to keep stable liquidity in the banking system, 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.
