Beijing - Saba:
The People's Bank of China (PBOC) on Thursday conducted seven-day reverse repurchase operations worth 37.3 billion yuan, equivalent to 5.19 billion U.S. dollars, at an interest rate of 1.5 percent.
Xinhua news agency reported that the move aims to maintain reasonable and ample liquidity in the banking system.
Reverse repos are operations in which the central bank buys securities from commercial banks through bidding, with an agreement to sell them back to them in the future.
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