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Central bank conducts reverse repos
China's central bank conducted 182.5 billion yuan ($25.45 billion) of 7-day reverse repos at an interest rate of 1.5 percent on Friday. The move aims to keep liquidity in the banking system at an adequate level, the central bank said. 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.
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