China's central bank adds liquidity via reverse repos

BEIJING, Sept. 19 (Xinhua) -- China's central bank conducted 208 billion yuan (about 29 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Tuesday.

It also conducted 60 billion yuan of 14-day reverse repos at an interest rate of 1.95 percent.

The move aims to keep liquidity stable at the end of the quarter, the People's Bank of China said in a statement.

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.