BEIJING, Oct. 9 (Xinhua) -- China's central bank conducted 61 billion yuan (about 8.64 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.5 percent Wednesday.
The move aims to keep liquidity in the banking system reasonable and ample, 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. ■
