BEIJING, May 29 (Xinhua) — China’s central bank conducted 250 billion yuan (35.16 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Wednesday.
The move aims to keep month-end liquidity in the banking system stable, 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.