China's central bank conducts $50.44 billion via reverse repos

BEIJING, 22nd August, 2024 (WAM) -- China's central bank conducted 359.3 billion yuan (US$50.44 billion) of seven-day reverse repos at an interest rate of 1.7 percent on Thursday.

Xinhua News Agency quoted a statement from the People's Bank of China as saying that the move aims to keep liquidity reasonable and ample in the banking system, the central bank said.

A reverse repo is a process in which the centr