China’s Central Bank adds liquidity via reverse repos

Fri, Nov 3, 2023
By editor


CHINA’s Central Bank conducted 43 billion Yuan (about 5.99 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 per cent Friday.

The move was aimed at keeping liquidity reasonable and ample in the banking system, the People’s Bank of China said in a statement.

The News Agency of Nigeria (NAN) reports that 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. (Xinhua/NAN)


-November 03, 2023 @ 14:27 GMT |


Biden addresses US, as Trump, Harris trade barbs in reset presidential race

U.S. President Joe Biden addressed the nation on Wednesday for the first time since dropping his reelection bid, saying he...

Read More
FG repatriates 158 irregular Nigerian migrants from Libya

THE Federal Government has repatriated 158 irregular Nigerian migrants from Libya. Nigeria’s Charge’ d’ Affaires...

Read More
Heatwave kills 400 children in Europe, Asia – UNICEF

SOARING summer temperatures in Europe and Central Asia are killing nearly 400 children a year, according to new analysis of...

Read More