BEIJING, Feb. 11 (Xinhua) -- China's central bank pumped 100 billion yuan (about 14.3 billion U.S. dollars) into the financial system via reverse repos on Tuesday.
The People's Bank of China injected the fund through seven-day reverse repos at an interest rate of 2.4 percent.
The move aims to offset the impact of reverse repos maturing and to keep liquidity in the banking system at a reasonably sufficient level, according to a statement on the website of the central bank.
Meanwhile, 380 billion yuan of reverse repos matured Tuesday, resulting in a net withdrawal of 280 billion yuan from the market.
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.
The People's Bank of China injected the fund through seven-day reverse repos at an interest rate of 2.4 percent.
The move aims to offset the impact of reverse repos maturing and to keep liquidity in the banking system at a reasonably sufficient level, according to a statement on the website of the central bank.
Meanwhile, 380 billion yuan of reverse repos matured Tuesday, resulting in a net withdrawal of 280 billion yuan from the market.
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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