BEIJING, Dec. 26 (Xinhua) -- China's central bank on Monday conducted 216 billion yuan (about 30.93 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system.
The amount included 173 billion yuan of seven-day reverse repos at an interest rate of 2 percent, and 43 billion yuan of 14-day reverse repos at an interest rate of 2.15 percent, according to the People's Bank of China.
The move is aimed at keeping liquidity stable in the banking system at the end of the year, 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. ■
