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China's central bank adds liquidity via reverse repos
Updated: January 23, 2024 11:03 Xinhua

BEIJING, Jan. 23 -- China's central bank conducted 465 billion yuan (about 65.39 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Tuesday.

The move aims to keep liquidity in the banking system reasonable and ample, the People's Bank of China said in a statement.

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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