China's central bank conducts 200b yuan of reverse repos

BEIJING -- China's central bank Thursday injected 200 billion yuan (about $31.27 billion) 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 month-end liquidity in the banking system stable, the central bank said.

Data showed that a total of 100 billion yuan of reverse repos matured on the same day.

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.