2023-12-25 02:58:45
BEIJING, December 25, 2023 (Xinhua) – The People’s Bank of China (the central bank) on Monday conducted seven-day reverse repo operations, worth 381 billion yuan (about 53.65 billion US dollars), at an interest rate of 1.8 percent.
The bank also conducted 14-day reverse repo operations, worth 90 billion yuan, at an interest rate of 1.95 percent.
This step aims to maintain reasonable and ample liquidity in the banking system, according to what the central bank said in a statement.
Reverse repo operations are operations in which the central bank buys securities from commercial banks through submitting bids, with an agreement to resell them again in the future.
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