China's central bank conducts $30 billion via reverse repos

BEIJING, 30th July, 2024 (WAM) -- China's central bank conducted 216.27 billion yuan (about US$30.31 billion) of seven-day reverse repos at an interest rate of 1.7 percent Tuesday.

Xinhua News Agency quoted a statement from the People's Bank of China as saying that the move aims to keep liquidity reasonable and ample in the banking system at the end of this month, the central bank said.

A reverse repo is a