F.P. Report
BEIJING: China’s central bank continued to inject funds into the financial system through open market operations Wednesday.
The People’s Bank of China said it conducted 104 billion yuan (about 14.59 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. (APP)
