China’s Central Bank conducted two billion yuan (about 281.9 million dollars) of seven-day reverse repos at an interest rate of 1.8 percent on Monday.
The move aims to keep liquidity in the banking system reasonable and ample, the People’s Bank of China said in a statement.
A reverse repo is a process by which a central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. (Zinhua/NAN)
