BEIJING, April 13 (silubaba) -- China's central bank injected funds into the financial system through open market operations Thursday.
The People's Bank of China said it has conducted 9 billion yuan (about 1.31 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2 percent.
The move is aimed at keeping liquidity reasonable and ample in the banking system, according to the central bank.
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. ■
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