China’s central bank conducts $19.95 billion via reverse repos Friday - GulfToday

China’s central bank conducts $19.95 billion via reverse repos Friday

  • 06 Sep 2024
China-Central-Bank

Picture used for illustrative purposes only.

China’s central bank conducted 141.5 billion yuan (about US$19.95 billion) of seven-day reverse repos at an interest rate of 1.7 percent Friday.

Xinhua News Agency quoted the People’s Bank of China as saying that the move aims to keep liquidity reasonable and ample in the banking system.

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.

WAM

Related articles

China’s yuan posts biggest weekly loss in 3 months

China’s yuan eked out a small gain on Friday after authorities attempted to slow its recent slide, but still posted its biggest weekly loss in three months,

19 May 2023

China July new bank loans down, credit growth weakens further

China’s new bank loans tumbled in July from a month earlier and other key credit gauges also weakened, even after policymakers cut interest rates

11 Aug 2023

China forex reserves up to record $3.238 trillion in December: CB

China’s foreign exchange reserves rose in December, official data showed on Sunday, as the dollar fell against other major currencies.

07 Jan 2024

China August new bank loans rise to $189.5 billion, miss forecast

New bank lending in China rose less than expected in August from a nine-month low seen in the previous month, as investors debate over whether more stimulus

10 Sep 2021

Most Popular Stories

Other Articles

Pune’s VTP Realty goes global: Launches new corporate office in Dubai

“We are thrilled to bring VTP Realty’s legacy of innovation and quality to GCC. This milestone is not just about expanding our business - it’s about showcasing the best of Pune to the world,” said Mr. Sachin Bhandari, Executive Director and CEO of VTP Realty.

an hour ago

WETEX 2024 set to put spotlight on latest cybersecurity technologies

The 26th Water, Energy, Technology and Environment Exhibition (WETEX) will see significant participation from companies specialising in digital transformation,

17 hours ago

US Fed expected to announce its first interest rate cut since 2020

The Federal Reserve is gearing up to announce its first interest rate cut for more than four years on Wednesday, with policymakers expected to debate

18 hours ago

UAE’s clean energy investments exceed Dhs45 billion: Suhail Al Mazrouei

Suhail Bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said that the UAE has made significant progress in increasing the contribution of clean energy production

21 hours ago