The People's Bank of China (central bank) injected 32 billion yuan (4.51 billion dollars) today, Monday, through 14-day reverse repurchase operations with an interest rate of 1.8%.

China News Service (Xinhua) quoted a statement from the central bank saying that this step aims to enhance the level of liquidity in the banking system.

It is noted that reverse repurchase operations, "reverse repo," are operations in which the central bank buys securities from commercial banks by offering bids, with an agreement to sell them back to them in the future.

In the foreign exchange market, the Chinese yuan price rose against the dollar in today's trading by 4 Chinese pips to register 7.1032 yuan per dollar today compared to 7.1036 yuan per dollar on Friday, the last trading day of last week.

Chinese rules allow the yuan to rise or fall by 2% from the central bank's benchmark price each trading day in the spot foreign exchange market.

It is noted that the benchmark price of the yuan against the dollar is determined based on the purchase prices offered by major financial institutions before the start of daily interbank market trading.