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China's central bank adds liquidity via reverse repos
Updated: July 4, 2023 10:29 Xinhua

BEIJING, July 4 -- China's central bank continued to inject funds into the financial system through open market operations Tuesday.

The People's Bank of China said it conducted 2 billion yuan (about 277.6 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.9 percent.

The move is aimed at keeping liquidity reasonable and ample in the banking system, 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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