BEIJING, June 16 (Xinhua) -- China's central bank continued to inject funds into the financial system through open market operations Friday.
The People's Bank of China said that it conducted 42 billion yuan (about 5.89 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.9 percent.
The move aims to offset the impacts of tax period and keep 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.
A single purchase
