The People's Bank of China, the country's central bank, said Thursday that it would conduct an 800-billion-yuan (about 115.5 billion U.S. dollars) outright reverse repo operation on Friday to maintain ample liquidity in the banking system.
The operation will be carried out with a fixed quantity through interest-rate bidding, with winning bids determined at multiple price levels. It will have a tenor of three months, or 91 days, according to the central bank.
Outright reverse repo operations -- a tool the central bank introduced in October 2024 to manage liquidity in the national banking system -- are conducted each month with a tenor of no more than one year.
These operations have enriched the country's monetary policy toolkit, complementing previous measures such as temporary repos, temporary reverse repos, and the buying and selling of treasury bonds.
China's central bank conducts 800-bln-yuan outright reverse repo operation
Hundreds of Shia Muslims marched in northern Nigeria this week to protest the killing of Iran's Supreme Leader Ayatollah Ali Khamenei in U.S.-Israeli strikes last Saturday.
Demonstrations erupted in several northern states, with the largest gathering in Minna, capital of Niger state. Protesters waved Iranian flags, held portraits of Khamenei, and chanted slogans denouncing the attacks.
Farina Ibrahim, one of the demonstrators, voiced the community's anguish and demanded an end to the strikes on Iran.
"The continued attack on Iran should be stopped. They should stop killing our brothers. This action has been going on for too long and we can't continue. Even small children are targeted and killed. We condemn the attack," she said.
Khamenei, who served as Iran's supreme leader for decades, was viewed by many Shia Muslims not only as a political authority but also as a source of religious guidance. His killing has sent shockwaves through Shia communities worldwide.
Demonstrators described the event as a turning point for the Islamic world.
"Whatever they're doing, they're not attacking Iran alone, they're attacking Islam; because Iran has not done anything wrong. All we're concerned about is that they're fighting Islam. And they will not succeed. This procession will continue till they stop. Both America and Israeli forces stop their crude ways of doing things, their attack on innocent people, their attack on innocent nations. What they've done is wrong!" said Usman Zubairu, another protester. In response to the protests, the U.S. Embassy in Abuja deployed heavy security and issued a security alert to American citizens in Nigeria, urging them to remain vigilant.
Nigerian Shia Muslims protest killing of Iran's Supreme Leader Khamenei
