China's central bank conducted 2 billion yuan (about 281.47 million U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Sunday. The move aims to keep liquidity reasonable and ample in the banking system, the People's Bank of China said in a statement in a report by Xinhua . 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. Source: Bahrain News Agency
Related Posts
Yen Rises, Dollar Falls as Federal Reserve Signals Rate Cut
The US dollar declined today after the Federal Reserve (US Central Bank) kept the door open for a rate cut in September, helping stabilize the yen near its highest level since March following the Bank of Japan’s shift towards a tightening policy The y…
UNCTAD Calls for Mitigating Growing Environmental Impact of Digital Economy on Developing Countries
The United Nations Trade and Development Organization (UNCTAD) has warned of the increasing environmental repercussions of the global digital economy and digital technologies, especially on developing countries.
It underlined the necessity of harness…
Dollar Falls to Lowest Level in Seven Months
The US dollar declined broadly on Monday and slipped sharply against the yen in particular as investors bet on a dovish tone emerging in the Federal Reserve’s July policy meeting minutes.
The minutes, due on Wednesday, and Powell’s speech on Friday a…