Beijing, Nov. 26, 2023: China’s Central Bank on Friday conducted 664 billion Yuan (about 93.32 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 per.
The move was aimed at keeping liquidity stable in the banking system at the end of the month, the People’s Bank of China said in a statement.
The reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them in the future.
