BEIJING, July 28 (Xinhua) — China’s central bank continued to inject funds into the financial system through open market operations Friday.
The People’s Bank of China said it conducted 65 billion yuan (about 9.11 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.9 percent.
The move is aimed at keeping liquidity stable at the end of the month, 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.