China's central bank conducts $29.5 billion via reverse repos

BEIJING, 11th September, 2024 (WAM) -- China's central bank conducted 210 billion yuan (about US$29.5 billion) of seven-day reverse repos at an interest rate of 1.7 percent Wednesday.

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 co