Arab Canada News
News
Published: August 16, 2024
The People's Bank of China (the central bank) conducted reverse repurchase operations today, Friday, for seven days, with a value of 137.8 billion yuan (approximately 19.28 billion US dollars), at an interest rate of 1.7 percent.
The Chinese news agency, Xinhua, stated that the bank aims through this step to maintain reasonable and ample liquidity in the banking system in the country.
It is worth noting that reverse repurchase operations, known as reverse repos, are operations in which the central bank buys securities from commercial banks through tenders, with an agreement to sell them back to them again in the future.
Friday, 04 July 2025
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