China’s Central Bank Conducts Reverse Repos Thursday

BEIJING, Nov. 28 (Xinhua) — China’s central bank conducted 190.3 billion yuan (about 26.47 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.5 percent Thursday. The move aims to keep liquidity in the banking system adequate at a reasonable level 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.