BEIJING, Feb. 7 (Xinhua) — China’s central bank conducted 183.7 billion yuan (about 25.62 billion U.S. dollars) of 7-day reverse repos at an interest rate of 1.5 percent on Friday.
The move aims to keep liquidity in the banking system at an adequate level, the central bank said.
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.
