Central Bank of China Injects Nearly $19.28 Billion via Reverse Repos

The Central Bank of China conducted 137.8 billion yuan (nearly $19.28 billion) of seven-day reverse repos at an interest rate of 1.7% on Friday. The move aims to keep liquidity reasonable and ample in the banking system, the central bank said, according to Xinhua News Agency. 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. Source : Qatar News Agency