Business Trading

Central Bank of China Injects Nearly $19.28 Billion via Reverse Repos

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The Central Bank of China conducted 137.8 billion yuan (nearly $19.28 billion) of seven-day reverse repos at an interest rate of 1.7% on Friday.

The move aims to keep liquidity reasonable and ample in the banking system, the central bank said, according to Xinhua News Agency.

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.

Source : Qatar News Agency

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