BEIJING: China's central bank conducted 50 billion yuan (US$7.02 billion) of seven-day reverse repos at an interest rate of 1.8 percent Monday.Xinhua news agency quoted a statement from the People's Bank of China as saying that the move aims to keep liquidity in the banking system stable at the end of the first half of 2024.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.Source: Emirates News Agency