China's central bank conducts reverse repos Monday

NAMPA / Xinhua

2024-11-25

BEIJING, Nov. 25 (Xinhua) -- China's central bank conducted 249.3 billion yuan (about 34.66 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.5 percent Monday. The move aims to keep month-end liquidity in the banking system adequate at a reasonable level, 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 t......

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