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Central bank injects liquidity into market

Xinhua | Updated: 2019-04-19 13:21

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, Oct 8, 2018. [Photo/IC]

BEIJING - China's central bank injected funds into the monetary market on Friday to maintain ample liquidity in the banking system.

The People's Bank of China conducted 20 billion yuan ($2.98 billion) of seven-day reverse repos at an interest rate of 2.55 percent.

No reverse repos will mature on Friday.

The central bank has injected a net 300 billion yuan into the market this week via reverse repos.

A reverse repo is a process by 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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