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.
BEIJING: China’s central bank yesterday conducted 10 billion yuan (about US$1.5bil or RM6.19bil) of reverse repos to maintain reasonably ample liquidity in the banking system.
The interest rate for the seven-day reverse repos was set at 2.2%, according to a statement on the website of the People’s Bank of China.
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