China's central bank conducts reverse buybacks worth 277.3 billion yuan

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China's central bank conducts reverse buybacks worth 277.3 billion yuan

[28/08/2024 05:21]

BEIJING-SABA
The People's Bank of China (PBOC) on Wednesday conducted seven-day reverse repos worth 277.3 billion yuan (about 38.94 billion U.S. dollars) at an interest rate of 1.7 percent.

The bank said in Biban that the move aims to maintain reasonable and ample liquidity in the banking system.