Briefly

PBOC conducts reverse repos

China's central bank conducted 369.2 billion yuan ($51.7 billion) of seven-day reverse repos at an interest rate of 1.7 percent on Wednesday. The move aims to keep liquidity reasonable and ample in the banking system, the People's Bank of China said. A reverse repo is a process in which the PBOC purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Renminbi strengthens against greenback