BEIJING, Sept. 24 (Xinhua) -- China's central bank Friday conducted 120 billion yuan (18.58 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system.
The interest rate for the 14-day reverse repos was set at 2.35 percent, according to the People's Bank of China.
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
