China's central bank conducts reverse repos Tuesday

BEIJING, Feb. 11 (Xinhua) -- China's central bank conducted 33 billion yuan (about 4.6 billion U.S. dollars) of 7-day reverse repos at an interest rate of 1.5 percent on Tuesday.

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 agreemen