The Chinese Central Bank injects liquidity worth $19.36 billion into the banking system

January 2, 2024 (QNA) The Qatar News Agency said that the People’s Bank of China (the central bank) announced today the conduct of seven-day reverse repurchase operations, worth 137 billion yuan (about 19.36 billion US dollars), at an interest rate of 1.8 percent. .

The Chinese news agency (Xinhua), citing the central bank, reported that this step comes with the aim of maintaining reasonable and ample liquidity in the banking system.

Reverse repo operations are operations in which the central bank buys securities from commercial banks through submitting bids, with an agreement to resell them again in the future.

It is noteworthy that on December 29, the People's Bank of China conducted seven-day reverse repurchase operations worth 195 billion yuan (about 27.53 billion US dollars), at an interest rate of 1.8 percent.