This file photo dated Sept 28, 2018 shows the headquarters of the People's Bank of China, the central bank, in Beijing. (PHOTO / VCG)
BEIJING - China's central bank on Sunday conducted a total of 2 billion yuan (about US$281.7 million ) of reverse repos to maintain liquidity in the banking system.
The interest rate for the seven-day reverse repos was set at 2 percent, according to the People's Bank of China.
The interest rate for the seven-day reverse repos was set at 2 percent, according to the People's Bank of China
The move aims to keep stable liquidity in the banking system, 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.
