BEIJING - China's central bank injected funds into the monetary market on Friday to maintain ample liquidity in the banking system.
The People's Bank of China conducted 20 billion yuan ($2.98 billion) of seven-day reverse repos at an interest rate of 2.55 percent.
No reverse repos will mature on Friday.
The central bank has injected a net 300 billion yuan into the market this week via reverse repos.
A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
