China's benchmark 7-day repo rate plunges to lowest since April 2010

SHANGHAI, Dec 24 (Reuters) - The volume-weighted average rate of China's benchmark seven-day repo traded in the interbank market fell to the lowest level in over 9-1/2 years on Tuesday morning, pressured by loose cash conditions.

The volume-weighted average of the seven-day repo, considered the best indicator of general liquidity in China, fell to a low of 1.5946%, the lowest level since April 2010.

Other tenors also fell to reflect the ample liquidity in the market. The volume-weighted average of the overnight repo eased to 1.1036%, the lowest since July. (Reporting by Winni Zhou and Brenda Goh; Editing by Muralikumar Anantharaman)

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