BEIJING, Sept. 18 (Xinhua) — China\’s central bank conducted 184 billion yuan (about 25.65 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Monday.
It also conducted 60 billion yuan of 14-day reverse repos at an interest rate of 1.95 percent.
The move aims to keep liquidity stable at the end of the quarter, the People\’s Bank of China said in a statement.
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.