China’s central bank conducted 101 billion yuan (about $14.07 billion) of seven-day reverse repos at an interest rate of 1.8% Thursday.

It also conducted 508 billion yuan of 14-day reverse repos at an interest rate of 1.95%.

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.

Source: Qatar News Agency