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Home Economy/Technology

China’s central bank conducts 2bln Yuan reverse repos

China

The Matters Press by The Matters Press
August 10, 2023
Reading Time: 1 min read
0
Value of China’s export to US dips

Beijing, Aug. 10, 2023: China’s Central Bank conducted two billion Yuan (279.4 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.9 per cent on Wednesday.

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The move is aimed at keeping liquidity reasonable and ample in the banking system, the People’s Bank of China said in a statement.

The reverse repo is a process whereby the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in future.

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