Beijing (China) Sep 18: China's central bank Saturday conducted a total of 100 billion yuan (about 15.5 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system.
The amount included 50 billion yuan of seven-day reverse repos at an interest rate of 2.2 percent, and 50 billion yuan of 14-day reverse repos at an interest rate of 2.35 percent, according to the People's Bank of China.
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.
Source: Xinhua
