BEIJING, Sept. 22 -- China's central bank conducted 202 billion yuan (about 28.2 billion U.S. dollars) of 14-day reverse repos at an interest rate of 1.95 percent Friday.

The move aims to keep liquidity stable at the end of the quarter, the People's Bank of China said in a statement.

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.