China's central bank conducts 100 bln yuan of reverse repos

China's central bank Wednesday injected 100 billion yuan (about 15.6 billion U.S. dollars) into the financial system via reverse repos.

The interest rate for the seven-day reverse repos was set at 2.2 percent, according to the People's Bank of China.

The move aims to keep the liquidity in the banking system reasonably 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. Enditem