BEIJING, Sept. 27 -- China's central bank conducted 200 billion yuan (about 27.88 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Wednesday.

It also conducted 417 billion yuan of 14-day reverse repos at an interest rate of 1.95 percent.

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.