BEIJING, April 19 (Xinhua) -- 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 (about 2.98 billion U.S. dollars) 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.