China's central bank conducts $19.95 billion via reverse repos Friday

BEIJING, 6th September, 2024 (WAM) -- China's central bank conducted 141.5 billion yuan (about US$19.95 billion) of seven-day reverse repos at an interest rate of 1.7 percent Friday.

Xinhua News Agency quoted the People's Bank of China as saying that the move aims to keep liquidity reasonable and ample in the banking system.

A reverse repo is a process in which the central bank purchases securities from com