China's central bank conducts 30 bln yuan of reverse repos

Source: Xinhua| 2021-06-30 11:20:31|Editor: huaxia

BEIJING, June 30 (Xinhua) -- China's central bank Wednesday conducted 30 billion yuan (about 4.64 billion U.S. dollars) of reverse repos to maintain stable liquidity at the end of the half year.

The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a statement on the website of the People's Bank of China.

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