China's central bank conducts reverse repos Friday

BEIJING, Dec. 20 (Xinhua) -- China's central bank conducted 101.6 billion yuan (about 14.1 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.5 percent on Friday.

The move aims to keep liquidity in the banking system adequate at a reasonable level in the banking system, 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. ■