BEIJING, Nov. 9 (Xinhua) -- China's central bank Tuesday injected 100 billion yuan (about 15.6 billion U.S. dollars) 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 maintain liquidity "at a reasonable and abundant level", 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. Enditem