Briefly

PBOC adds liquidity via reverse repos

China's central bank conducted 71 billion yuan ($9.98 billion) of seven-day reverse repos at an interest rate of 1.8 percent on Friday. The move aims to keep liquidity in the banking system reasonable and ample. 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.

RMB strengthens against greenback