China's Interbank Money Market Brisk in FebruaryThe February turnover of China's interbank money market totaled 413.85 billion yuan (about US$50 billion), up 60 percent over January, according to latest statistics.In February, the average daily turnover in credit and bond repurchase agreements reached 4.53 and 16 billion yuan, respectively, up 9 and 75 percent over the previous month, while that in spot bonds stood at 160 million yuan, dropping by 35 percent. The weighted average interbank lending rate and repurchasing rate were 2.607 percent and 2.542 percent respectively in February. Seven-day items were still the most popular choices, accounting for 62.4 percent of interbank credit and 78.2 percent of the bond repurchase. |
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