BEIJING, Feb. 6 (Xinhua) — China’s central bank continued to inject money into the financial system through open market operations on Monday.
The People’s Bank of China said on its website that it had conducted 150 billion yuan (about 22.14 billion U.S. dollars) worth of seven-day reverse buybacks at an interest rate of 2 percent.
The move aims to maintain reasonable and ample liquidity in the banking system, according to the central bank.
Reverse repo operations, known as a “reverse repo”, are operations in which the central bank purchases securities from commercial banks through bidding, with the agreement to sell them back to them in the future.
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