BEIJING, Aug. 23 (Xinhua) -- China's central bank conducted 379.3 billion yuan (53.15 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.7 percent Friday.
The move aims to keep liquidity reasonable and ample in the banking system, 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. ■
