Headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China. [Photo/Agencies]
BEIJING – China’s central bank conducted 68.3 billion yuan ($9.64 billion) of seven-day reverse repos at an interest rate of 1.5 percent Tuesday.
The move aims to keep liquidity in the banking system reasonable and ample, 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 them back in the future.
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